In June 2021, Pioneer formed the platform company Altano Energy with the strategy to build a large scale, institutional renewable power portfolio in Spain.

The initial investment was used to acquire two ready-to-build solar PV projects in the Castilla La Mancha region, with generating capacity of 64MW. Altano has since completed significant additional acquisitions in July 2022, comprising an operational hydropower portfolio and late development stage wind and solar projects. Altano now has a large and diversified portfolio of renewable assets and is one of the leading platforms in Spain.