Bruc Energy, a renewables-focused investment vehicle of Bruc Management, has signed a deal to acquire a 2,000-MW solar project portfolio in Spain from Forestalia.
The seller will continue to develop the projects until they reach the shovel-ready state, at which time Bruc Energy will complete the acquisition. The project sites are located in the provinces of Zaragoza and Teruel. All projects have access to the transmission grid and are currently moving through the permitting process.
This latest transaction was preceded by the purchase of seven photovoltaic (PV) plants in Zaragoza from Forestalia, totalling 281 MW. All of them have environmental impact statements (EIS) in place and construction is scheduled to commence next spring.
Last week, Bruc Energy closed both the financing and a ten-year power purchase agreement (PPA) for a 110-MW solar photovoltaic (PV) acquired recently from Grupo Solaer. The company also recently inked a deal to form a joint venture with compatriot Alter Enersun to push 550 MW of mature solar projects in Spain.
At present, Bruc Energy has a portfolio of 60 MW in Japan and over 1,000 MW in operation, under construction or under development in the Iberian Peninsula.
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