U.K.-based renewable investment firm Quercus Investment Partners LLP intends to sell a 320-MW wind and solar portfolio in Europe.
Located in the U.K., Italy, Spain and Eastern Europe, some of the assets are jointly owned with Swiss Life Holding AG, Reuters reported Aug. 5, citing a source familiar with the matter.
A private sale is expected to take place after the summer, Reuters said. The deal is estimated to be worth more than €600 million, or $671 million, including debt.
Quercus is seeking partners to build about 1,000 MW of solar projects in Greece, Italy, Portugal and Spain. The green energy deals are said to be driven by the European Union's goal to reduce greenhouse gas emissions by at least 40% by 2030.