Canada Pension Plan in talks to acquire European renewables platform
04 February 2020 - 12:00 am UTC
Canada Pension Plan Investment Board is in talks to purchase a European solar power company with some 350 MW of operating assets being sold by Madrid-based fund manager Qualitas Equity, SparkSpread has learned.
The Toronto-headquartered pension manager is understood to be the preferred bidder in Qualitas’ auction of Q Energy Fund III, which owns a portfolio of operating PV assets across Spain, Germany and Italy, as well as a 3.5 GW development pipeline.
RBC Capital Markets is advising Qualitas. Goldman Sachs is understood to be advising CPPIB, according to a source.
RBC launched a sale of Q Energy Fund III last summer in a deal code-named Project Bautista, SparkSpread reported on 25 June.
Q Energy Fund III is the third renewables investment platform that Qualitas has built out and then put up for sale.