Bruc Iberia Investment Partners has paid €65 million ($72 million) for two 50-megawatt photovoltaic (PV) solar power plants in Spain.
The seller was Spanish multinational Solarpack, which specializes in the development, financing, construction, operation and management of utility-scale solar PV plants. The company was launched in 2005 as one of the first pure solar PV developers and independent power producers in Spain, according to Solarpack’s website.
Located in Alvarado-La Risca, a town in the municipality of Badajoz, the plants are currently in the “ready to build” phase. Upon operation, they are expected to reduce 53,000 tons of CO2 emissions and power 40,000 homes. The energy will be sold through a long-term power purchase agreement.
According to Bruc Iberia Investment Partners, this is the company’s first such operation in Spain.
