This acquisition strengthens Vauban’s investment footprint in the energy transition sector and reinforces further its already broad portfolio of assets in Spain. Vauban is committed to maximise its impact in the region and create sustainable value to all the stakeholders over the long-term. The Companies acquired are located in some of the coldest regions of Spain (Castilla y Leon, Madrid and Castilla La Mancha). Spain is an area with high stakes in terms of heating network needs, due to a structural delay in the shift towards ecological transition.

This portfolio is the largest in Spain in capacity but also in biomass supply. The portfolio combines a total installed power of 74MW, a target demand of 300GWh in run-rate stage, 77km of network that are already built and are already connecting 10,000 dwellings. The networks and the capacity are expecting to increase in the coming years through commercialization with the prospect of connecting more than 25,000 dwellings and more than 100 public and private service establishments to the networks by 2028.

For Vauban, the interest in acquiring these 4 assets is explained by the opportunity to make an exceptional acquisition, involving the 4 largest assets in Spain in terms of heating networks, as well as by the possibility of carrying out a project based almost exclusively on a renewable energy source with biomass, significantly reducing the share of gas use.

The investment in the project Lockport is in line with Vauban’s strong commitment to sustainability. Vauban is proud of investing in the replacement of fossil fuels (gas is the main energy source in Spain) with renewable energy sources to provide thermal power by using local biomass supply with stable prices to customers.