trending Market Intelligence /marketintelligence/en/news-insights/trending/0a9DTZoLhyXrnCd-agk6gA2 content esgSubNav
In This List

Green Investment Group, Univergy form solar development joint venture

Blog

Banking Essentials Newsletter: July Edition - Part 3

Blog

Banking Essentials Newsletter: July Edition - Part 2

Blog

Anticipate the Unknown Go Beyond Fundamentals to Uncover Early Signs of Private Company Credit Deterioration

Blog

Taking Loss Given Default Estimation to the Next Level: An Aspiration for All Creditors, Not Just Banks


Green Investment Group, Univergy form solar development joint venture

Macquarie Group Ltd.'s Green Investment Group Ltd. and Univergy International SL launched a joint venture to develop small-to-utility-scale, early-stage solar projects.

The venture, called Nara Solar, will initially develop Univergy International's existing European portfolio of over 35 projects, totaling more than 700 MW, according to a March 11 news release. The new solar development platform will be based in Madrid and will focus on tripling the capacity of its current Spanish portfolio over the next year. Green Investment Group and Univergy International will each hold a 50% stake in Nara Solar.

"The European solar market is gearing up a period of significant growth, particularly in Spain where falling costs have stimulated a reawakening of the industry," Nara Solar CEO Yago Acon said.