Bruc Energy to buy 2 GW of solar assets in Spain

  • 1/20/2021
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MADRID, Jan 20 (Reuters) - Bruc Energy, an investment firm owned by a Canadian pension fund and a high-profile Spanish businessman, has agreed to buy 2 gigawatts of assets to add to its holdings in the fast-growing Spanish solar energy sector, the company said on Wednesday. Spain’s prodigious sunshine, broad flat plains and political drive to increase a relatively small solar generation capacity are drawing widespread investor interest, tracking a global shift towards reducing carbon emissions to halt climate change. Bruc Energy, a vehicle controlled by Spanish businessman Juan Bejar and the Ontario Pension Trust, agreed to buy the 2 gigawatts (GW) of solar capacity in the landlocked region of Aragon. The investment firm did not say how much it would pay for the assets. The seller is Forestalia, a Spanish firm that grew out of a meat processing empire and bid successfully for a large chunk of the renewable energy capacity Spain put on the block at its last round of auctions. Forestalia will continue to develop the portfolio and sell it to Bruc once the parks are ready for construction to start, the groups said in a statement. Bruc, which also manages solar assets in Japan, said it had also bought seven other solar sites in Aragon from Forestalia. It bought a plant in southern Spain last week, and struck a deal in December with Spanish clean power company Alter Enersun to buy a 55% stake in 12 solar plants and form a joint venture. (Reporting by Isla Binnie. Editing by Jesús Aguado and Mark Potter )

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