Jinko Power, a global renewable energy company, Ardian Infrastructure, one of the European leaders of the Infrastructure sector and White Summit Capital AG, a Switzerland-based firm specializing in private infrastructure, have reached an agreement to jointly construct and operate “La Isla”, a 182.5 MW solar photovoltaic (PV) plant near Seville, Spain.
The project was previously wholly owned and developed by Jinko Power International, a sister company of Jinko Solar, the solar panel manufacturer. The plant is currently in development and construction is expected to be completed during the second half of 2019.
Once in operation, La Isla will be one of the first grid-parity/zero-subsidy projects in Europe and one of the largest solar PV plants in Spain. It will be able to generate clean energy to cover the annual consumption of 100,000 households.
La Isla, representing a total investment of €125 million, will create 350 direct jobs in the region during its construction phase.
Juan Angoitia Grijalba, Managing Director at Ardian Infrastructure, said: “This investment demonstrates Ardian’s continuing commitment to the development of our renewable energy portfolio. With this acquisition, we are cementing our presence in Spain, a country with high potential in the renewables space. This builds on our sector expertise, with Ardian Infrastructure now managing circa 2GW of renewable energy, through technologies including wind, solar, hydro and biomass.”
Amaia del Villar, Principal at White Summit Capital, said: “We are delighted to have successfully completed this landmark transaction for White Summit Capital. Together with our partners, we are proud to be spearheading the new renewable energy paradigm.”
About Jinko Power
Jinko Power is a global renewable energy company which develops and operates projects in Asia, Europe, Latam and the Middle East, and will be the industrial partner for La Isla.
Ardian is a world-leading private investment house with assets of US$90bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 550 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 800 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
About White Summit Capital AG
White Summit Capital AG is a Switzerland based firm specialised in private infrastructure. White Summit has partnered with Ardian to support the investment needs of La Isla and will act as asset manager for the project.