Infrastructure / Renewables

Portfolio diversification

Institutional investors increasingly see infrastructure assets as a way to diversify their portfolios by investing in real assets with long-term cash flow predictability and a premium yield over liquid asset.

Sustainable investment

Within real assets, sustainable investing has moved from being a niche investment idea to attracting enough capital to start making an impact on global challenges on a significant scale.

ESG investments

Investors are seeking ESG investments with performance characteristics that are resilient to the economic cycle and that have the potential to provide long-term cash flow predictability and a premium yield over other fixed income opportunities.

Complex market

It is not an accessible market, there are substantial barriers to entry: expert teams, strong local networks with developers, government agencies, advisors, lawyers, asset management capabilities, etc.

Leverage local knowledge

Investors must deal individually with each market and take advantage of existing local knowledge. Many investors, when considering euro investments, focus on Northern and Central European countries. But as more money flows into this area, increased competition puts pressure on returns. Too much capital is chasing too few assets. The problem is not a lack of good projects, but a lack of local expertise.

Alter Capital

Sophisticated knowledge of the country, regions and projects is necessary to identify the correct investment opportunities. Alter Capital has specialised resources and teams with a strong local network of contacts.

ALTER CAPITAL IS DEVELOPING A STRATEGY TO INVEST IN UNSUBSIDISED PHOTOVOLTAIC PROJECTS IN ANDALUSIA.

Renewables

Alter Capital is managing the late stages of the development and construction of assets, optimising financing structures, with the objective of divesting once the value creation cycle reaches its maximum and it is an attractive asset for lower cost of capital investors seeking sustainable investments with long-term cash generation visibility, premium yield over liquid assets and support for energy transition and ESG requirements.

We are currently developing a photovoltaic project of

50

MW that will be ready to start the construction phase in the last quarter of 2021.

Alter Capital’s objective is to develop, build and operate a portfolio of

250

MW of photovoltaic installations.

Investment in regulated assets

Alter Capital has open two investment strategies for investing in regulated assets:

PV plants with regulated revenues

Investment in the acquisition of operational photovoltaic plants, with a long operation period and proven reliability. Small capacity plants where operational and financial restructuring can be carried out in order to optimise management.

Investment in securitisation of lease agreements

From land to renewable energy production plants. Acquisition of credit rights for long-term land leases offering a CPI-indexed investment with high cash flow predictability and low risk.