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Bruc Energy to acquire 2GW solar power portfolio from Forestalia

21 Jan 2021 (Last Updated January 21st, 2021 11:59)

Bruc Energy has agreed to acquire a 2GW portfolio of solar photovoltaic projects in Spain from renewables developer Forestalia.

Bruc Energy to acquire 2GW solar power portfolio from Forestalia
Forestalia will manage the projects until they are ready to build, when Bruc Energy will take over. Credit: Sebastian Ganso from Pixabay.

Bruc Energy has agreed to acquire a 2GW portfolio of solar photovoltaic projects in Spain from renewables developer Forestalia.

Forestalia will continue to develop the projects until they reach the ‘ready to build’ state. After this Bruc Energy, an investment vehicle of Bruc Management, will acquire them.

The solar power plants involved in the deal lie in the provinces of Zaragoza and Terue in Aragón, Spain. All the solar plants have access to the transmission grid and are currently in administrative processing.

Bruc Energy president Juan Béjar said that the alliance between Bruc Energy and Forestalia is “one of the most relevant in the green energy sector due to its size and scope and because it combines Forestalia’s development capacities and Bruc’s financial ones.

“It is an agreement that will create a lot of value for both parties and will contribute to continue developing the renewable energy sector in Spain.”

Neither company has disclosed financial details of the deal.

The deal was preceded by the purchase of seven solar PV projects in the province of Zaragoza from Forestalia, with a total capacity of 281MW. All these projects have environmental impact statements in place and construction will begin next spring.

Recently, Bruc Energy concluded the financing for a 110MW solar photovoltaic project acquired from Solaer. It also signed a ten-year power purchase agreement.

Last month, the reached an agreement with Alter Enersun to jointly develop 12 solar power plants, with a total capacity of 550MW. The companies created Bruc Alter Enersun in order to integrate these assets.