Part of the funding comes from the platform’s key shareholders INFRAGREEN IV managed by RGREEN INVEST, a Paris based asset manager that specializes in green infrastructure with over 1.3 billion EUR under management, and Elite Alfred Berg a Nordic asset manager with over 3 billion EUR under management. The capital is committed solely for the development of self-consumption solar plants. Recap is in the process of raising a related loan tranche with senior debt providers.
Recap’s industrial and commercial solar rooftop and energy solutions in Spain and Portugal reached first closing of up to 80 million EUR in funding for its solar PV platform. Part of the funding comes from the platform’s key shareholders INFRAGREEN IV managed by RGREEN INVEST, a Paris based asset manager that specializes in green infrastructure with over 1.3 billion EUR under management, and Elite Alfred Berg a Nordic asset manager with over 3 billion EUR under management. The capital is committed solely for the development of self-consumption solar plants. Recap is in the process of raising a related loan tranche with senior debt providers.
Sébastien Rondel, Investment Director at RGREEN INVEST, emphasizes the significance of behind-the-meter solutions in the broader energy transition. “Shifting energy generation closer to demand is a core aspect of the energy transition and this investment puts us at the forefront of developing energy solutions for C&I customers in Spain and Portugal”, concludes Rondel.
Daniel Pasternack, CEO of Elite Alfred Berg and Head of Elite Alfred Berg Renewable Energy Infrastructure Fund II, sees their investment as a natural continuation of their earlier 10 million fund into the Spanish C&I market with Recap. “The C&I solar segment complements well our fund’s other green investment strategies and allows us to continue building our exposure to distributed energy solutions”, Pasternack says.
Marco Berggren, CEO of Recap, states that “the closing of this fund means that Recap will be one of the largest players in Spain and Portugal in commercial and industrial solar rooftop solutions. This serves as a strong endorsement of our team and the business model we have developed over the past few years.”
Innovation and local commitment is central to Recap's management, which places strict demands on meeting their client’s needs, ensuring the most efficient and sustainable energy solutions. For its investors ReCap develops innovative green investment strategies, well aligned with the recently introduced in the EU Green Deal, helping direct sustainable financing towards a carbon neutral Europe by 2050.
