Tages Group and Francesco Trapani acquire stake in VAM Investments to launch into private equity sector

25 July 2018
  • Agreement signed for the acquisition of 49% of VAM Investments Group
  • Francesco Trapani, an existing Tages shareholder, directly invests and becomes Execu-tive Chairman of VAM
  • Tages retains option to increase stake to 100% of VAM Investments within three years

Agreement Between Tages Capital Sgr And Maccaferri Industrial Group: Tages Helios Fund Acquires Photovoltaic Plants With A 51 Mw Output

22 December 2017

Tages Capital SGR (‘Tages’) announces that Tages Helios fund (see fund description below) signed a contract with the company SECI S.p.A. (Maccaferri Industrial Group) to acquire a portfolio of more than 51 MW comprising 35 plants distributed throughout Apulia, Sicily and Emilia Romagna effective, December 2017.

The plants in the portfolio use first-rate technology and were built directly by Enerray, a company managed by SECI Energia – the market leader in Italy. The acquired portfolio generates around 74 GWh a year, which is an energy output capable of meeting the electricity demand of 27,000 families and results in an annual saving of 30,000 tonnes of CO₂ from being released into the atmosphere.

With this latest acquisition, the entire portfolio held by Tages Helios now generates around 290 GWh a year, which is an energy output capable of satisfying the electric energy demand of over 100 thousand families and results in an annual saving of around 152 thousand tonnes of CO₂ from being released into the atmosphere.

Tages Helios Fund (‘Tages Helios’) represents the first infrastructure fund launched by Tages Capital that is entirely dedicated to the Italian photovoltaic sector and has raised more than €250 million in total. The Fund’s investors primarily include insurance companies, pension and social security funds, banking foundations and institutions, as well as private professional investors along with the management of Tages.

Similar to other operating assets, the newly acquired plants will be managed by Delos Power, a company established as a partnership between Tages Helios and Renam, one of the largest Italian operators in the asset management sector, with a portfolio of over 400MW in total from the plants generating energy from renewable sources. Operations and maintenance activities will continue to be carried out by Enerray.

Umberto Quadrino, President of Tages Group,said: “I am particularly delighted to have completed the acquisition of a portfolio of exceptional photovoltaic plants built by a leading Italian industrial group. Following this transaction, Tages Helios’ portfolio has grown to 208 MW, reinforcing the fund’s position as the third-largest operator on the Italian market”.

Gaetano Maccaferri, President of the Maccaferri Industrial Group, commented: "I am happy that the acquisition of Enerray's photovoltaic plants has been concluded with a leading company in the sector such as Tages. This deal is framed by SECI Energia’s repositioning in the photovoltaic sector, in which Enerray is the Italian leader in the management and maintenance of plants. The proceeds from this deal will be reinvested into other initiatives in the energy sector".

Tages Capital SGR was assisted during the deal by the law firm Norton Rose Fulbright, by Moroni & Partners for the technical due diligence and by PwC for the accounting and financial aspects.

The Maccaferri Industrial Group was assisted by Legance Lawyers & Associates in its capacity as a legal advisor, by REA reliable energy advisors as technical advisors and by Ernst & Young Italy for the accounting and financial aspects.

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Tages Helios Fund Concludes €360 Million Financing Of The Sunreserve Portfolio

14 July 2017

Tages Capital SGR announces that the Tages Helios Investment Fund (“Tages Helios” or “the Fund”), an alternative investment fund specialising in the solar infrastructure sector, has completed financing of the SunReserve portfolio. The portfolio, acquired in August 2016 from First Reserve Energy Infrastructure, consists of nine renewable energy plants with a total power capacity of 101 Mega Watts (MW).

Tages Helios Investment Fund Announces Final Closing Taking Committed Capital To Over €250 Million

22 June 2017

Tages Capital SGR is pleased to announce the final closing of Tages Helios Investment Fund (“Tages Helios ” or the “Fund” ) with committed capital of €253 million . Tages Helios is a renewable energy investment fund focused exclusively on the Italian solar infrastructure sector and represents o ne of the largest fundrais ing s dedicated to the sector.

Tages Helios Investment Fund Announces Third Closing Taking Committed Capital To Approximately €210 Million

08 May 2017

Milan 8 th May 2017 – Tages is pleased to announce the third closing of Tages Helios with an additional €55 million committed to its property alternative investment fund, which focusses exclusively on the Italian photovoltaic sector. Launched in December 2015, the fund has increased its committed capital to approximately €210 million.

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