Madrid-based Altano Energy secures €60M to expand its renewable energy platform in Spain

Madrid-based Altano Energy, a renewables investment company, has announced that M&G Investments will invest €60M in its platform.

The funding will support the expansion of Altano Energy’s operations across solar, hydro, wind, and storage sectors. The partnership aligns with Altano’s ongoing efforts to build a diversified energy model.

M&G’s Infrastructure & Real Assets team, part of its €18B Impact & Private Equity division, made the investment through the M&G Infrastructure and Real Assets Fund and the impact-focused M&G Infrastructure & Real Assets Horizons Fund. Both funds serve a wide range of investors and focus on long-term global infrastructure opportunities.

Anish Majmudar, Head of Real Assets at M&G Investments, says, “Altano is entering an exciting stage in its growth. Our investment will help bring these projects to life and support Spain’s shift to a cleaner, more resilient energy system, while providing our clients access to a high-quality, bilaterally negotiated investment opportunity that combines long-term value creation with measurable environmental impact.”

Altano Energy operates across Spain, developing solar, hydroelectric, wind, and energy storage projects. It has 179 MW (megawatt) in operation, 134 MW under construction, and 1,200 MW in development. Once complete, this capacity could supply power to about 945,000 homes annually.

The investment will support Spain’s goal to generate over 80 per cent of its electricity from renewable sources by 2030, and eliminate coal by decade’s end. With nuclear power set to phase out by 2035, demand for stable, diversified renewable energy is increasing. 

A recent blackout in Spain and Portugal highlights the need for flexible energy systems that can handle supply fluctuations.

A renewables investment platform

Altano Energy is a renewables platform focused on the Southern European energy market. The company was founded in 2021 by Miguel Sánchez-Praena Ferrer and Íñigo Sánchez-Junco Ayala. It is backed by Pioneer Point Partners, an independent infrastructure investment manager established in 2008.

Altano Energy manages a portfolio of 1.5 GW across technologies including solar, wind, and storage. The company is expanding this portfolio through the addition of solar PV and wind projects and is also exploring technologies such as battery storage, pumped storage, hybrid systems, and hydrogen.

The company operates with a team that has more than 145 years of combined experience in the infrastructure and energy sectors.

Pioneer Point Partners, the investment firm supporting Altano, focuses on mid-market infrastructure in Europe. Led by four founding Managing Partners, Pioneer has invested over €1.2B in equity across the continent, targeting the energy transition and environmental sectors.