The vehicle promoted by Manuel Lao and Key Capital acquires the 65% share previously held by the construction company.
KC Impact, an independent Spanish asset management company specialised in the development of sustainable infrastructures and backed by Nortia Capital, has closed a deal with OHL to acquire its share in Aguas de Navarra, the concession company in charge of the construction and operation of general interest infrastructures of the Extension of the 1st Phase of the Irrigation Area of the Navarre Canal for a period of 30 years.
This investment fits within KC Impact’s strategy, as the project is in the construction phase, within the environmental sector, and is low-risk due to the availability fee from a robust Public Administration such as the Government of Navarre.
The main objective of this project is to promote the optimisation of water use and its consequent environmental impact, reduce energy consumption, and promote inter-territorial cohesion through the economic promotion of agricultural and agro-industrial activities in the region in order to generate equal opportunities in the rural world. Once completed, it will serve more than 15,000 hectares in 15 municipalities in Navarre located on the banks of the Arga and Ega rivers, of which 6,840 hectares are already in operation.
With this agreement, KC Impact joins Agbar belonging to the Suez Group (leading global private water operator with the most customers) as a partner of Aguas de Navarra with the aim of implementing a long-term development plan.
Last year, KC Impact also invested in another perpetual water rights concession asset in two regions of Chile with Sacyr, with the environmental sector being a key part of its investment strategy.
The asset management company plans to secure another investment in Europe in the near future and to expand its activity in the North American market, where it has already been pre-qualified for the last phase of a waste management project in the US and is expected to select the winning bidder by the end of this year.
Nortia Capital, Manuel Lao’s investment holding company behind KC Impact, continues its investment activity in infrastructure and sustainability. The holding company recently announced its entry into the McWin Food Ecosystem Fund with the aim of providing a vehicle to help accelerate the transformation of the global food system and support global sustainability. Over the last few months, it has also made investments in renewable energies, retirement homes and hotels, among others.
About KC Impact
KC Impact is backed by Nortia Capital and is the first Spanish asset management company specialised in the promotion and development of sustainable infrastructure, with an investment approach based on combining its extensive industry experience with best management practices, backed by its team’s solid track record. Its investment policy focuses on high quality infrastructure assets in the transport, environmental and social industries at early project stages (greenfield/yellowfield) through its KC Infra fund.
Two thirds of the assets will be located in Europe and North America and the other third in investment grade countries in Latin America. The team, led by Joaquín Camacho and comprising, among others, Diego Fernández, Manuel Villacé, Peter Antolik and Yoko Takagi, has extensive knowledge of the sector, with an average experience of 18 years and an accumulated track record of €124 billion in assets.