Macquarie closes debt investment in 50-MW CSP plant in Spain

CSP park. Image by Bureau of Land Management.

September 23 (Renewables Now) - Macquarie Asset Management has closed a debt investment in a 50-MW concentrated solar power (CSP) plant in the southern Spanish region of Andalusia.

The EUR-43-million (USD 50.5m) investment was provided by Macquire's Green Energy Debt Fund and other managed funds in the form of bespoke, long-dated, subordinated debt financing, Australia's Macquarie Group Ltd (ASX:MQG) said today.

Owned by Madrid-based investment fund manager Q-Energy, the solar plant has been in operation since 2012. It is capable of generating enough clean electricity to power over 34,000 homes per year and offset 45,000 tonnes of carbon emissions annually.

"Accessing such financing will be key for countries like Spain, which must scale its investment in the sector quickly in order to achieve its goal of installing a further 60 GW of local renewable generation capacity by the end of this decade," commented Macquarie Asset Management's managing director, Tom van Rijsewijk.

Made on behalf of institutional investors, this investment builds on previous financing agreements with Q-Energy such as this summer's EUR-90-million debt investment in a 120-MW CSP portfolio, Macquire noted.

(EUR 1.0 = USD 1.174)

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