RREEF Infrastructure acquired three wind farms in Valladolid, Spain, through purchasing a 49% stake in Empresariales Vapat SLU. The acquisition was finalised in January 2011.
The three wind farms, San Lorenzo C, San Lorenzo D, and Esquileo I, have a combined capacity of 216 MW and are located in Valladolid in the region of Castilla y León, near the towns of Torrelobatón and Ampudia. Dexia Sabadell, BBVA, La Caixa, Banesto and Spain’s ICO provided senior debt totalling EUR 188m.
Castilla y León is known to have very strong wind potential and is considered among the most promising for wind technology in Spain. The region has 1,900 MW of wind farms already in operation and expects 4,000 MW more will be constructed.
Operis audited the investment model for the acquisition.