It is a fund focused on projects in the Iberian Peninsula, Portugal and Italy.
Andbank has signed a distribution agreement with Everwood Capital to commercialize Everwood Fund V from Andorra, which invests in the construction of unsubsidized photovoltaic projects in Southern Europe.
It is a fund focused on projects – without regulatory risk and without subsidies – in the Iberian Peninsula, Portugal and Italy, and focuses on investing in the construction of a diversified portfolio of photovoltaic plants, Andbank reported in a statement this Monday.
Andbank’s product director, Paras Bhagtani, has argued that «both governments and companies are aligning to fight against climate change», so he believes that the sector represents a great opportunity for investment and diversification.
Everwood Capital’s founding partner Alfredo Fernández has stated that they aim «to offer the investor direct access to renewable assets at an optimal time and with great visibility of the renewable industry in the future.»
He has ensured that Everwood V fund already has «commitments» exceeding 150 million euros and has a portfolio of 18 projects with a total of 1,097 MWs that are expected to come into operation during 2023.
According to the founding partner of Everwood Capital José Antonio Urquizu the fund offers the investor “access to real economic opportunities with attractive returns, with a limited risk and hand-by-hand with a management team”.
The firm plans to sell the portfolio in operation in 2026 to large corporations, being the natural buyers the industrial corporations or large financial entities.