October 15 (Renewables Now) - Luxcara GmbH has raised an undisclosed sum on behalf of its 121-MWp Guillena-Salteras solar photovoltaic (PV) project in Spain through the issuance of the German debt instrument known as Schuldschein loans.
The renewables investor and asset manager said Monday it advised on the private placement of “mid-double-digit million euro amount” in senior secured Schuldschein loans as project bonds with two German pension funds. The proceeds will secure the construction and commissioning of the Guillena-Salteras solar park.
The solar project, located north of Seville, Andalusia, has been in Luxcara's portfolio for institutional investors since December 2018.
Luxcara announced this July it had signed a long-term power purchase agreement (PPA) with European energy trader Alpiq, of Switzerland’s Alpiq Holdings AG (SWX:ALPH), for the solar park’s output. The German firm then said that Guillena-Salteras would start production in the first half of 2020.