The FP Lux Group (“FP Lux”) is making its first investment for the FP Lux Energy Transition Fund, which was launched in 2023. The deal comprises twelve photovoltaic projects that are currently still in the development phase. With a total capacity of 114 megawatt peak, the parks will be able to supply a medium-sized city with 75,000 households with green electricity and thus save up to 104,400 tons of CO2 per year. The twelve solar parks are located throughout Italy and will go into operation from 2025.
Benefit from location advantages in Italy with a diversified portfolio The seller of the portfolio is the renewable energy company PNE, which will also develop the parks until they are ready for construction. The transaction was accompanied by re:cap global investors. The independent investment advisor is launching the FP Lux Energy Transition Fund together with FP Lux Investments.
Thomas Seibel, Managing Director of re:cap, comments on the transaction: “With this large-scale acquisition of Italian solar parks, we are underlining our commitment to further expanding our Europe-wide diversified solar portfolio. Italy is a predestined location for photovoltaic projects. With this purchase, our investors can participate in this locational advantage.” Commenting on the partner, the PNE, Seibel added: “We are very grateful for the trusting cooperation. We have already completed several transactions with the PNE and have been able to shape the energy transition together.”
Fund with a total output of 1.3 gigawatts The FP Lux Energy Transition Fund is already the fifth fund that the FP Group has launched together with re:cap. The predecessor funds have already invested EUR 2 billion in wind, solar and battery storage projects at 80 locations in Europe. The generation capacity acquired and managed by re:cap for the FP Lux funds (onshore wind, solar and battery storage) totals over 1.3 gigawatts. The FP Lux Energy Transition Fund is a sub-fund of the FP Lux Platform, a Luxembourg alternative investment fund. The initiator and distributor of the platform is the FP Group, the management company is BKN Capital S.A. It is classified as an article 9 fund under the EU Disclosure Regulation and is therefore considered an impact fund. The investor base includes insurance companies, pension funds, pension schemes and savings banks.