The New South Wales (NSW) Treasury Corporation (TCorp), the state’s sovereign investor, has entered into another partnership with London-headquartered investor, developer and fund manager Equitix, to grow a renewable energy hybridisation platform in Spain.
Both parties will jointly fund 50/50 a project pipeline to grow Equitix’s existing portfolio of hybrid renewable assets.
The current portfolio, acquired by Equitix in 2024, comprises 200 MW of operational and under-construction assets, along with an additional 150 MW in development.
TCorp and Equitix are targeting 1.4 GW of generational capacity by 2030 and have exclusivity over a 1 GW pipeline throughout Spain.
Once fully developed, the hybridisation platform will increase Spain’s renewable energy supply, help it meet both domestic and European sustainability goals and generate enough electricity to power 900,000 households.
Equitix Chief Investment Officer Achal Bhuwania said the partnership with TCorp is of great significance to Equitix.
“It is a significant vote of confidence in our ability to source high-quality renewable energy assets in Europe and further evidence of our ability to attract leading global investors,” Bhuwania said.
“Our experience as a major investor in renewable energy and energy storage, complemented by our dedicated team in Spain was pivotal to our success in securing this strategic partnership.”
TCorp Chief Investment Officer Stewart Brentnall said the investment provides a great opportunity to invest in a renewable energy business with a strong competitive position and deepen our partnership with Equitix, a leading renewable energy manager.”
“This investment will expand and diversify TCorp’s global infrastructure portfolio and position it to capture positive and sustainable returns in the clean energy sector.”
Equitix has invested in more than 300 assets in 24 countries across renewables, transmission, and distribution, social infrastructure, transportation infrastructure, environmental services, and digital infrastructure, having been active in Spain since 2018 where it owns, builds and manages key infrastructure, including a large renewable energy portfolio in addition to its hybridisation platform.
TCorp has partnered with Equitix since December 2023 when it acquired a stake in energy-from-waste business Viridor.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.