“We are excited to have found a long-term partner for our European assets.” said Guy Vanderhaegen, CEO & President of Origis, “We thank ForVEI II and Greentech for their close collaboration.”
Commenting on this significant transaction for the Fund Federico Giannandrea, Partner & Head of Southern Europe, Foresight said: “We are delighted to have acquired this operational 41MW FiT portfolio from Origis, the first significant acquisition for ForVEI II, which launched last year. We have a strong pipeline of projects for the Fund and significant interest from other investors.”
ForVEI II is the second vintage of the investment platform JV between Foresight and VEI Green, launched in June 2018. The Fund is a multi-shareholder vehicle comprising at first close commitments from Foresight and VEI Green, NWS Holdings Limited, the Hong Kong listed specialist infrastructure investor, and Family Office FinCarl. The Fund specialises in acquiring renewable energy infrastructure assets in Europe, with Foresight acting both as arranger and Asset Manager to the platform.
Enrico Orsenigo, Managing Director of VEI Green II declared: “With ForVEI II, we aim to emulate the successful track record of ForVEI, which delivered a total return in excess of 15% + to investors over 7 years. Working once again with Foresight and our new co-investors, we are building an attractive portfolio of renewable infrastructure assets to generate the kind of uncorrelated predictable returns that institutional investors find compelling.”
Origis Energy was advised by Greentech Capital Advisors on the transaction.