Bestinver sells solar business to IST for €330M

Bestinver, Acciona’s asset management arm, has divested its renewable energy platform in Spain to Swiss pension fund IST (IST3 Infrastruktur Global) for over €330 million. The platform, previously owned by Bestinver Infra FCR, comprises a portfolio of solar photovoltaic projects with a total installed capacity of 91 MW, consisting of 60 solar plants diversified across Spain. IST carried out the acquisition through its Spanish holding company Terralys Renovables, marking its second major investment in Spain. The deal involved multiple advisors, including Renta 4, Pérez Llorca, KPMG, AFRY, Cuatrecasas, EY, Uría Menéndez, and Garrigues.