August 5, 2019 / 3:20 PM / 3 months ago

UK-based Quercus to sell 320 MW solar, wind portfolio - source

MILAN (Reuters) - British-based renewable energy investor Quercus is looking to sell a 320 megawatt portfolio of wind and solar energy assets in Europe, a source familiar with the matter said on Monday.

The assets, part of which are held in a joint venture with Swiss Life (SLHN.S), are located in the UK, Italy, Spain and in Eastern Europe, the source said.

The deal, which is likely to be a private sale rather than an auction, is expected to happen after the summer, the source said, adding there was good interest from infrastructure funds.

The source did not reveal a price but a banker who works in the renewable energy sector said such a portfolio could be worth more than 600 million euros (£553.05 million), including debt.

European Union ambitions to reduce greenhouse gas emissions by at least 40 percent by 2030 in line with the Paris Agreement are helping drive green energy deals.

Quercus has said it is looking for partners to build out 1 gigawatt of new solar energy capacity across Greece, Italy, Portugal and Spain.

Reporting by Stephen Jewkes

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