16 Apr BRUC secures a EUR 570 million financing for the construction of 842 MW of solar PV assets

April, 16.- BRUC has closed a €570 million financing agreement with Santander, ING, BNP Paribas, Crédit Agricole CIB, Sabadell, BBVA and Unicaja. These funds will enable the construction of solar photovoltaic power generation plants totalling 842 megawatts (MW).

The financing is classified as a “green loan”. Banco Santander acted as financial advisor, hedge coordinator and green loan coordinator. ING, BNP Paribas, and Crédit Agricole CIB acted as bookrunners, and together with Sabadell, BBVA and Unicaja acted as MLAs, and hedge providers. Allen&Overy and Linklaters acted as legal advisors. The plants, whose construction will be partially financed with these funds, are in the provinces of Seville, Malaga, Cadiz and Soria. All of them will count with Power Purchase Agreements (PPA) with leading offtakers, including Pfizer, Alstom and Grupo Roca.

These plants will generate 1,400 jobs during the construction phase. Once they come into operation, expected in 2024 and 2025, they will generate energy equivalent to the consumption of 421,000 homes and avoid the emission of 33,680,000 tonnes of CO2.

BRUC currently has 1,100 MW in operation. By the end of the year, it will add a further 2,000 MW under construction. BRUC’s total portfolio amounts to 8,500 MW, of which 8,400 MW are in the Iberian Peninsula and 100 MW in Japan.

Last year, BRUC signed a financing agreement with seven banks for 600 million euros. This amount, together with the financing of €570 million, guarantees a substantial part of the contributions necessary for investment in the construction and commissioning of a portfolio of solar photovoltaic and wind generation plants in Spain.

About BRUC

BRUC is one of the largest and most dynamic renewable energy groups in Spain. Founded by the entrepreneur Juan Béjar, the shareholding is made up of OPTrust, USS and Interogo Holding. Luis Venero is the CEO of the company.

BRUC believes that an energy transition towards a decarbonised economy is urgently required. Part of this transition relies on the development of clean energy, whose contribution to countries’ energy systems must be increasing. BRUC’s mission is to generate attractive investment opportunities in the field of renewable energies and to manage assets with the objective of contributing to the sustainability of energy supply systems and substantially reducing their environmental impact.

BRUC’s assets are located in Spain and Japan. It has 8,400 MW of solar photovoltaic and wind power plants in Spain, all with access granted to the transmission grid, while in Japan it manages 100 MW of solar generation. Its presence in the Asian country dates back to the beginning of BRUC’s activity, which identified investment opportunities in a market which, from a regulatory point of view, ensures the income from the generation activity with clean energies.

For further information:

José Manuel Velasco
jmvelasco@brucmanagement.com
+34 654315520