Bruc Capital, Macquarie acquire 37-MW Japanese portfolio from IBC Solar
Solar plant in Japan built by IBC Solar. Source: IBC Solar. License: All Rights Reserved.
Bruc Capital and Macquarie Capital have signed a framework agreement to acquire up to 37 MW of photovoltaic (PV) projects in Japan from German PV systems provider IBC Solar AG, Macquarie Group (ASX:MQG) said on Monday.
Bruc Capital, a Spanish investment company, and Macquarie Capital expect to invest up to EUR 90 million (USD 101m) in the portfolio, which consists of 27 projects and will be developed over a period of two to three years. The two are also getting preferential rights to acquire IBC Solar's broader pipeline of solar projects in Japan for the next three years, which could represent up to 165 MW in additional capacity.
According to the announcement, the deal is Bruc Capital's first investment.
"The agreement is a considerable step forward for BRUC Management and its investment focus in the renewable energy sector on a global scale," said Bruc president Juan Bejar.