Bankinter Investment, together with Plenium Partners, firms that have recently approved the merger of their management companies (subject to regulatory approval) and have been partners since 2017, have announced the financing of a €530 million photovoltaic portfolio comprising 130 MW of capacity.
The financing, provided by CaixaBank as lead arranger and Abanca with a significant participation, has been structured through a senior debt model and is linked to the alternative investment vehicle Helia Renovables IV.
This financing optimizes the capital structure of the assets and covers a portfolio of 130 MW distributed across Spain, including both mainland and island territories (Balearic and Canary Islands). The assets benefit from Spain’s long-term regulated framework under the RECORE remuneration scheme and have an operational track record of more than 15 years.
The assets belong to the alternative investment vehicle Helia Renovables IV, launched in 2020 by Bankinter Investment and Plenium Partners with €290 million in committed capital. Following the divestment of its wind exposure in April, the fund now holds only photovoltaic assets in Spain and Italy.
This transaction reinforces the position of Bankinter Investment and Plenium Partners as key managers in renewable infrastructure and reflects lenders’ confidence in their ability to structure, manage, and optimize such assets.
In a more demanding financing and return environment, the deal validates both firms’ track record and their capacity to continue attracting financial backing for the development of their platforms.
A proprietary alternative investment model
The transaction is part of Bankinter Investment’s strategy to consolidate its alternative investment platform, which since 2016 has developed a proprietary model based on direct investment in real economy assets. Over the years, the firm has built a multi-sector and diversified approach, with exposure to areas such as renewable energy, infrastructure, student housing, real estate, technology, and private equity, with an increasing international footprint.
This model, based on co-investment with clients and active asset management, has positioned Bankinter Investment as one of the leading alternative investment platforms in the Iberian Peninsula, making these asset classes accessible to a growing base of investors and integrating them into diversified long-term portfolios.
The transaction was advised by Cuatrecasas, Garrigues, and EY.
About Bankinter Investment and Plenium Partners
Bankinter Investment and Plenium Partners, now a single leading alternative investment platform following their recent merger (subject to regulatory confirmation), are recognized partners for institutional investors in sustainable assets across Europe. The merger—building on a successful partnership since 2017—has unified teams, management structures, and investment capacity under one entity, strengthening their ability to lead direct investments in alternative assets in Europe and accelerate their continental expansion.
This step, combined with the acquisition of a majority stake in the pan-European manager Access Capital Partners, brings together a strong multidisciplinary team and consolidates a diversified portfolio of €14 billion in assets under management, more than 15,000 investors, and exposure across 11 sectors and 14 countries.
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