January 15 (Renewables Now) - Solarpack Corporacion Tecnologica SA (BME:SPK) has closed the sale of two 50-MW solar photovoltaic (PV) projects it is currently building in Spain to multinationally-backed firm Bruc Iberia Energy Investment Partners.
The total investment in the 100-MW undertaking reaches EUR 65 million (USD 72.4m), with project financing provided by Banco de Sabadell (BME:SAB), the Spanish solar developer said today.
The twin projects, located in Alvarado-La Risca, a town in the region of Extremadura, were developed by Solarpack. The company said it would remain connected to them after the sale to provide construction management and operations services.
The solar parks are expected to go online in the third quarter of 2020. They will operate under power purchase agreements (PPAs) with an undisclosed off-taker.
The transaction represents the first investment in Spain for Madrid-based Bruc Iberia Energy, which counts Spanish businessman Juan Bejar, Canada's OPTrust and Macquarie’s Green Investment Group as its shareholders, Solarpack said in today’s statement.
(EUR 1.0 = USD 1.11)