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Munich Re, KKR Buy 49% of T-Solar’s Assets in Spain, Italy

T-Solar Global SA, the biggest operator of photovoltaic power plants, sold a 49 percent stake in its Spanish and Italian solar parks to Munich Re and KKR & Co. as it seeks funds for global expansion.

Munich Re, the world’s largest reinsurer, and the New York-based private-equity firm KKR bought into 42 operating parks with a total capacity of 168 megawatts, Madrid’s T-Solar said today in a statement. Munich Re acquired 37 percent through its MEAG Munich Ergo AssetManagement GmbH unit and KKR got 12 percent, Josef Wild, a MEAG spokesman, said by phone, declining to disclose the price. Both have an option to buy future plants.