Bruc Iberia Energy Investment’s €65 Million Acquisition of Photovoltaic Power Plants from Solarpack

Jones Day provided legal advice to Banco de Sabadell, S.A. in connection with the structuring and implementation of the financing for the construction and entry into operation of two photovoltaic solar plants of 50 MW of nominal power each and its corresponding evacuation infrastructure located in Badajoz.

Bruc Iberia Energy Investment Partners has acquired from Solarpack two solar photovoltaic power plants under construction in Spain with a combined capacity of 100 MW. The plants represent a total investment of 65 million euros and have a project finance in place from Banco Sabadell.

The two 50 MW plants are located in Alvarado-La Risca, a town in the municipality of Badajoz (Extremadura region). Both plants are currently under construction and anticipated to become fully operational in the third quarter of 2020. Together, they will avoid an estimated 53,000 tons of CO2e annually and provide enough electricity to power the equivalent of almost 40,000 homes. The plants have been developed by Solarpack who will continue to manage the projects throughout construction and operations. The sale of the energy is secured by a Power Purchase Agreement (PPA).

This is the first investment in Spain made by Bruc Iberia Energy Partners, with shareholders including Juan Béjar, OPTrust and Green Investment Group. Bruc Management, also led by Juan Béjar, advised and managed Bruc Iberia Energy Partners. Macquarie Capital is acting as financial advisor.

The Jones Day team was led by Javier López Antón (Picture) and Vanessa Armas Molina.

Involved fees earner: Vanessa Armas – Jones Day; Javier López Antón – Jones Day;

Law Firms: Jones Day;

Clients: Banco de Sabadell;

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