14 Jan Bruc Energy acquires a 110 MW photovoltaic solar plant in Jerez and close its project finance

Posted at 15:25h in News by
  • The renewable energy company owed by OPT and Juan Béjar acquires the facility from Solaer.
  • Finances the operation with Banco Sabadell and gets an agreement to sell the energy through a ten-year PPA.
  • The group’s asset portfolio totals more than 1,000 MW.

 

Madrid, January 14, 2020.-  Bruc Energy, the company owned by Ontario Pension Trust (OPT) and Juan Béjar, has closed with Banco Sabadell the financing of the photovoltaic solar power plant located in Jerez de la Frontera (Cádiz, Spain) with a power of 110 MW. It has also signed a Power Purchase Agreement (PPA) for a period of ten years. This facility was acquired at the end of 2020 from Solaer.

The plant is located in the “Las Quinientas” property, with an area of ​​280 hectares, in the municipality of Jerez de la Frontera (Cádiz). The civil works phase began at the end of 2020 and during its construction it will employ 200 people. When it is finished and comes into operation, the plant, with an installed capacity of 110 MW, will be able to produce the energy needed to supply 68,000 homes and will avoid the emission of 42,000 tons of CO2 into the atmosphere.

Bruc Energy has just closed the project finance provided by Banco Sabadell and a Power Purchase Agreement (PPA) with a multinational energy company for a period of ten years.

This is the second operation carried out by Bruc Energy in just one month. At the end of December, Bruc Energy reached an agreement with Alter Enersun to buy 55% of 12 photovoltaic solar power plants totaling 550 MW. Both companies have created a new company called Bruc Alter Enersun, which will integrate these assets, all of them in the construction phase and advanced development in Andalusia and Extremadura.

Bruc Energy is one of the investment vehicles of Bruc Management, a fund manager firm operating in the renewable energy sector. Although its first investments were located in Japan, where it has a portfolio of 60 MW, it has had a quick development in Spain in recent months. Through its various inverter vehicles, Bruc already has more than 1,000 MW in operation, under construction or under development in the Iberian Peninsula.

 

For more information: José Manuel Velasco- +34 654315520. jmvelasco@brucmanagement.com