X-ELIO has successfully completed the divestment of seven solar PV plants with 187 MW capacity to a consortium formed by Japanese institutional investors
Madrid. 6 July, 2018. X-Elio, the leading global developer of solar PV energy plants with presence in the five continents, has completed the divestment of a portfolio of Japanese solar assets consisting of four operating plants and three assets under construction, for an aggregated installed capacity of 187 MW. The portfolio was sold to a consortium formed by Japanese institutional investors for a total consideration of c.¥75bn (approximately $700m).
The divested portfolio includes four operating PV plants with a 106 MW total capacity as well as three plants under construction (81 MWs total) which are expected to become fully operational by the end of 2018.
This landmark transaction underpins X-Elio’s ability to successfully execute its strategy, recycling capital from solid and stable operating assets into its pipeline of projects, with secured tariffs for an aggregated capacity of 1.3 GW that are either in construction or in advance stage of development.
X-Elio will continue to further expand its Japanese portfolio which currently includes projects with a total installed capacity of 219 MW. These are either currently under construction or under development and with secured tariffs.
Jorge Barredo, X-Elio’s CEO commented: “This transaction demonstrates our continuous ability to develop solar projects internationally that are attractive to local players and other investors.
We continue to be committed to the Japan market through our existing assets under development. It is one of our key regions worldwide and our aim is to keep being a reference in the market.”
Nomura International Plc. acted as exclusive financial advisor and Morrison & Foerster LLP acted as legal advisor to X-Elio in this transaction.