COFIDES has committed up to €150 million through the Co-investment Fund (FOCO) to a Spanish renewable-energy platform created by infrastructure investor Equitix on March 17, 2026. The platform partners with local Spanish developers such as Capital Energy to develop, construct, and operate wind, solar PV and battery-storage assets, according to a press release. The platform is targeting 1.4 gigawatts (GW) of generational capacity by 2030. FOCO is co-investing in this transaction alongside Equitix and an Australian institutional investor.
The current portfolio comprises 330 megawatts (MW) of operational and under-construction assets, along with an additional 200 MW in development. The assets are situated in Castilla-y-Leon, Castilla-la-Mancha, Aragon, and Navarre. FOCO’s investment mandate includes the mobilization of foreign investment. The fund was created by the Government through the addendum to the Recovery, Transformation and Resilience Plan and has resources from the NextGenerationEU instrument.
The operation supports the development of key technologies to advance the energy transition and strengthens Spain’s position as a benchmark for next-generation hybrid solutions. It also boosts the attraction of foreign investment into priority sectors for the country’s industrial, energy and climate policy. FOCO is endowed with €2,000 million and its purpose is to favor foreign investment in the Spanish economy, boosting access to financing for companies linked to the ecological and digital transitions, as well as biotechnology and technological innovation.
“This investment is significant not only because of its scale, technological innovation and climate relevance, but also due to its combination of hybridization solutions and positive environmental impact, as well as its contribution to increasing renewable-energy generation capacity in Spain,” said Ángela Pérez, Chairperson and Chief Executive Officer of COFIDES. Equitix CIO Achal Bhuwania stated, “We are pleased to welcome COFIDES to this strategic partnership, strengthening our shared commitment to Spain’s energy future.”
Equitix is a leading European mid-market infrastructure fund manager with more than $19 billion of equity under management. Established in 2007, Equitix has invested in more than 300 assets in 24 countries across diversified sectors including renewables, transmission, and distribution, social infrastructure, transportation infrastructure, environmental services, and digital infrastructure. COFIDES is a state-owned trading company that manages financial funds from the Spanish State, with shareholders including Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell, and CAF–Development Bank of Latin America.
