Spanish renewables investment company Altano Energy enters a new phase with substantial backing, anticipating expansion across various energy domains. The €60 million investment from M&G Investments not only provides necessary funds but also signifies a strategic alignment with Altano’s goals for a diversified energy framework. The funds are expected to bolster the company’s operations in the solar, hydro, wind, and storage sectors, contributing to Spain’s renewable energy targets. The move reflects a broader strategy to address increasing energy challenges, as recent events have highlighted the need for adaptable energy systems.
Altano Energy’s ongoing endeavors showcase its commitment to the renewable energy landscape. It has a track record of solar, hydroelectric, and wind projects and aims to grow its portfolio considerably. The nation’s aim to generate substantial electricity from renewable resources supports Altano’s expansion plan. The company’s active projects in Spain have an operational capacity of 179 MW, additional 134 MW under construction, and a development pipeline of 1,200 MW. These efforts are in response to local goals to enhance energy resilience amidst the phase-out of coal and nuclear power.
How Will Altano Energy Utilize the New Investment?
The €60 million injection is intended to expedite Altano Energy’s growth, enabling the realization of new projects in the renewable sector. The immediate objective is to deliver clean energy solutions across Spain, with an overarching ambition to cater to approximately 945,000 households annually once current projects come to fruition. This involves harnessing renewable sources more effectively to transition towards a more sustainable energy grid.
Who is Backing Altano Energy?
Altano Energy’s ambitions are supported by both M&G Investments and Pioneer Point Partners. The latter, known for its focus on European mid-market infrastructure projects, emphasizes transitions in the energy and environmental sectors. With its experience of investing over €1.2 billion across the continent, Pioneer provides the expertise and strategic oversight necessary for Altano Energy to achieve its growth targets.
Anish Majmudar, Head of Real Assets at M&G Investments, remarked,
“Altano is entering an exciting stage in its growth. Our investment will help bring these projects to life and support Spain’s shift to a cleaner, more resilient energy system, while providing our clients access to a high-quality, bilaterally negotiated investment opportunity that combines long-term value creation with measurable environmental impact.”
Founded in 2021 by Miguel Sánchez-Praena Ferrer and Íñigo Sánchez-Junco Ayala, Altano Energy is focused on expanding its renewable initiatives in the Southern European energy market. Altano’s platform stability is underpinned by a team with over 145 years of collective experience in both infrastructure and energy domains. This foundation allows Altano to incorporate diverse energy technologies including solar PV, battery, and hybrid systems.
Altano’s strategic direction is complemented by its collaboration with Pioneer Point Partners. Pioneer, active in the infrastructure sector since 2008, supports the transition to renewable energy sources through targeted equity investments and offers Altano both financial backing and strategic insights. This partnership serves as a significant pillar of Altano’s growth strategy, facilitating effective responses to the shifting energy demands of the region.
Continuing the momentum from its latest investment, Altano Energy plays a pivotal role amidst Spain’s renewable energy initiatives. The focus is on scaling up renewable capacity to complement Spain’s goal of sourcing over 80% of its power from renewables by 2030. The support from M&G positions Altano to meet the nation’s growing requirements, offering avenues for investors to engage with Spain’s green transition effectively.
