Investment manager InfraRed Capital Partners has signed a deal to buy a 1.5GW subsidy-free PV development portfolio in Spain, known as Giralda, from Bester Group unit Progressum Energy Developments.

The portfolio comprises a number of utility-scale plants in the southern Spanish regions of Andalusia and Castile La Mancha.

“InfraRed and Progressum are long term partners and have a track record of collaborating to successfully deliver solar parks in Mexico,” Progressum chief executive Marco Antonio Macías said.