Bluefield Partners LLP (‘Bluefield’)
‘Revitalising solar investments’
Bluefield, an established renewable energy specialist investment advisor to Bluefield Revive Solar SCSp, a Luxembourg domiciled fund, and the Spanish based asset manager Arcano Capital, SGIIC, S.A.U (‘Arcano’) through Arcblue Solar FCRE SA, are pleased to announce the successful final close of Bluefield Revive Italia I Srl (the ‘Bluefield Revive’). This novel initiative resulting from the partnership between Bluefield and Arcano, combines revamping/repowering of solar assets while seeking to realise tangible environmental, financial, and sustainability benefits. Bluefield Revive is dedicated to acquiring and rejuvenating operational solar assets in Italy that face technical, financial, subscale and/or operational challenges. The assets are identified by leveraging Bluefield’s distinct platform to identify, invest in, operate, optimize and maintain solar PV assets, using their extensive sector expertise.
Reviving Potential of Solar Assets with ESG as a Focus
The successful closure of Bluefield Revive Italia I Srl marks a milestone for Bluefield and Arcano, as it reached the hard fundraising target of €100 million. During its third close, the vehicle garnered substantial momentum and was oversubscribed, despite a challenging fundraising environment. Bluefield’s and Arcano’s deep industry expertise meant they are able to identify special situation, underperforming and subscale opportunities that are positioned to deliver significant value to investors. The strategy is not only centred around the revitalisation of solar projects, but also further establishes their commitment to supporting Italy’s drive for clean energy. By optimizing existing solar assets, Bluefield Revive is regenerating existing infrastructure with the aim to boost the assets’ bottom-line performance while contributing to Europe’s renewable energy goals.
The success of this strategy was recently recognised at the IJGlobal Investor Awards 2023, with Revive winning the award for ‘Impact Investor’ of the Year.
The success of Bluefield Revive Italia l Srl demonstrates the value of an integrated team spanning Investment, asset management, finance, accounting, monitoring and engineering. This unified approach has paved the way for the vehicle’s success to date and underscores its commitment to identifying, evaluating and developing sustainable investment opportunities, without sacrificing investor returns.
Arcano Sustainable Infrastructure strategy
Arcano Sustainable Infrastructure strategy was launched at the beginning of 2019 having raised since then more than €700 million from investors through its alternative investment funds, Arcano Earth Fund (“AEF I”) and Arcano Earth Fund II (‘AEF II’) focused on energy transition, digital infrastructures, water and sustainable transport, in the U.S. and Europe, promoting ESG criteria and sustainable goals.
Giovanni Terranova, Managing Partner, and Co-Founder of Bluefield Partners LLP, commented: “Achieving this milestone for Revive is significant recognition of the value of the Bluefield integrated platform and of the great work carried out by our teams. We are very pleased of working in partnership with Arcano. Together we are tangibly proving that profits with purpose are possible. Harnessing complementary capabilities to set new standards in sustainable investment, extracting value from infrastructure while advancing sustainability.”
Pierre Sáenz Lafourcade, Chief Investment Officer of Arcano Sustainable Infrastructure Strategy, said: “We are delighted to have been able to be part with our investors to such a great opportunity in the consolidation of a portfolio of operational photovoltaic power plants in Italy together with Bluefield, a recognised Investment Advisor with profound knowledge and sector specialisation in the field.”
For further information:
Bluefield Partners LLP
Juliet Drinkwater, Investor Relations Manager
Tel: +44 (0) 7562 616 567
Bluefield Italia Srl
Alberto Paturzo, Director for Southern Europe
Tel: +39 06 9779 7145
Buchanan (PR Adviser)
Henry Harrison-Topham / Henry Wilson
Tel: +44 (0) 20 7466 5000
About Bluefield Partners LLP
The Bluefield group of companies provides M&A, asset management, development and construction management services throughout the lifecycle of the renewable assets under management. With more than a decade of accomplishments, Bluefield’s expert teams have overseen assets generating hundreds of megawatts of clean energy each year. This record underscores Bluefield’s commitment to a sustainable future and its role in the realisation of the net zero transition. The collaboration with Arcano Capital, signifies an important stride towards nurturing sustainable growth and innovation within the industry, while continuing to deliver profit, with purpose.
About Arcano Capital, SGIIC, S.A.U
Founded in 2003, Arcano Partners Group is an independent financial advisory and asset management company headquartered in Spain. With more than two hundred and thirty employees and seven offices spanning Europe and the US, Arcano is renowned for its expertise of offering innovative financial solutions.