KKR teamed up with Munich Re to take a 49% share in southern European solar plants owned by Grupo T-Solar, according to the Financial Times.
Both companies, combined, paid in excess of $141 million USD.
KKR made its first renewable energy investment last month by teaming with Italy’s Sorgenia to build wind farms in France. Other large private equity firms have also entered the European renewable energy market, reports The Financial Times, such as AXA Private Equity, who became France’s fourth largest wind operator.
KKR intends to make further investments in Europe’s renewable energy market.
Due to recent cuts in subsidies and falling prices, investor confidence in the European solar market has been dented, according to the same Financial Times article.
To read the full article by the Financial Times cited in this story, click here