Macquarie has made a €90 million ($108 million) debt investment in a 120-megawatt portfolio of concentrated solar power (CSP) plants in Spain.
The portfolio includes the 20-megawatt Gemasolar tower plant, the world’s first solar plant to achieve 24-hour operations, and two 50-megawatt parabolic trough solar parks, Valle 1 and Valle 2. The assets produce enough green energy to power more than 84,000 Spanish households and avoid 126,000 tonnes of carbon emissions every year.
The portfolio is owned by Q-Energy, a European renewable energy asset manager, which is known for its operation of solar PV farms, CSP plants and wind parks in Spain, Germany and other OECD countries.
Macquarie invested in the portfolio on behalf of its institutional clients via a bespoke, long-dated, subordinated debt financing.
“Spain has set an ambitious target of increasing its renewable energy capacity to 60 gigawatts by 2030, including 5 gigawatts of new CSP capacity,” sai