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Gestamp Renewables and KKR work together to accelerate the growth of this leading global solar PV developer and operator
The transaction values Gestamp Solar at a total enterprise value of
Gestamp Solar, founded in 2005, has rapidly grown into a globally recognized player in the PV space. Today, the business is present in 18 countries and has 300 MW of PV projects in operation or in construction, with a further 2.2 GW of PV projects in development.
"We feel that this alliance between a well-established industrial group
like Corporación Gestamp and a leading global investor like KKR creates
a winning formula for our respective companies," said
Jésus Olmos, Member and Head of European Infrastructure at KKR, commented, "This is an attractive time to invest in a leading owner and developer of solar PV plants. The Company has a highly experienced and entrepreneurial management team, an outstanding track record of developing and constructing its own assets, and an attractive advanced portfolio of development projects. We are excited to work with Corporación Gestamp in the further development of the Company. This investment adds to our strong belief and track record of investing in renewable energy. Gestamp Solar will be a key platform for KKR, developing utility scale solar PV on a global level and offers the opportunity to own development capabilities in solar PV complementary to our presence in operational wind and solar assets worldwide through our partnership with Acciona and KKR investments in the US and Canada."
"We are delighted to count on KKR as investment partner in this exciting
time of rapid growth in the renewable energies sector," said
In this transaction,
About Gestamp Solar
Gestamp Solar (www.gestampsolar.com)
is the photovoltaic solar energy division of Gestamp Renewables,
specialized in the development, construction, operation and maintenance
of solar plants in USA,
KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners' capital and brings opportunities to others through its capital markets business. References to KKR's investments may include the activities of its sponsored funds. For additional information about Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR), please visit KKR's website at www.kkr.com.
Source: KKR and Gestamp Renewables
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