29 Jul BRUC closes the first half of 2024 with 2,000 MW in operation and under construction

• An additional 472 MW will be connected to the grid before the end of the year.
• The group’s projects generated 1,032 GWh in the first six months.

Madrid, July 29, 2024 – BRUC, one of the fastest growing and most dynamic companies in the renewable energy sector, closed the first half of 2024 with 2,000 MW in operation and under construction.

BRUC’s portfolio of assets in Spain and Japan totals 8,000 MW, of which 1,066 MW are already in commercial operation and 897 MW are under construction. The rest, up to 8,000 MW, corresponds to projects under development and hybridization projects with other generation technologies, mainly wind and storage.

A further 472 MW will be added to the 1,066 MW in operation before the end of the current year, bringing BRUC’s total solar photovoltaic power in operation to 1,538 MW by the end of 2024. In addition, BRUC expects to start construction of 506 MW in the second half of 2024.

In the first half of 2024, despite low radiation, BRUC’s energy production in Spain and Japan has reached 1,032.82 GWh, thus avoiding the emission of 281,960 tons of carbon dioxide. The energy discharged into the grid by BRUC during the period could supply 296,192 Spanish households.

The financing for the construction and commissioning of the portfolio of assets is secured through various project finance agreements that the company has in place with leading financial institutions. The soundness of the shareholding of the different companies that make up the energy group (the OPTrust and USS pension funds and Interogo) supports the development of the ambitious business plan.

“We are reasonably satisfied with the results obtained in the first half of the year, despite the global uncertainty and the current scenario of volatile energy prices. We have been able to adapt to a less favorable environment than in previous years and maintain our growth and profitability objectives,” says Juan Béjar, President of BRUC.

Value creation

BRUC understands that leadership in the energy and economic transition goes beyond renewable energy generation. It requires a comprehensive commitment that encompasses sound policies, investment in research and development, multi-sector collaboration and education. In exercising this vision, BRUC is committed to sustainable growth, where environmental protection, respect for society and good governance are core values.

Its business is fully aligned with European plans and regulations on sustainability and decarbonization, the United Nations Sustainable Development Goals and plans to combat climate change. Sustainable development is at the heart of the company’s strategic plan and forms part of its corporate values.

In this sense, during the first months of the year, sustainability governance has been strengthened through the adhesion to the United Nations Global Compact, the approval of new policies, training for BRUC professionals, the evaluation of the value chain and the strengthening of relations with local communities, among others.

Luis Venero, CEO of BRUC, emphasizes that “the management team has demonstrated that it can maintain a high rate of growth and meet its objectives in all circumstances”. He adds: “The portfolio of Power Purchase Agreements (PPAs) achieved during the year also proves the confidence of our clients, who share our vision of the vital importance of renewable energies in the fight against climate change, energy independence and the development of more competitive economies”.

Contact:

José Manuel Velasco
jmvelasco@brucmanagement.com