15 Jan Bruc, OPTrust and Green Investment Group close the acquisition of two solar plants from Solarpack in Alvarado (Spain)
Madrid, January 15th, 2020.- 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.
Solarpack is a multinational company specializing in the development, construction and operation of large-scale solar PV projects with presence in fast-growing markets in Europe, North America, Latin America, Asia and Africa. Since its foundation in 2005, the Company has developed solar PV power plants that represent a total capacity of 876 MW, in addition to having built 509 MW in “turnkey” or “EPC” (“Engineering, Purchasing and Construction”) basis. The Company currently generates power through 12 projects totalling 305 MW in Spain, Chile, Peru and India. In addition, Solarpack operates and maintains 17 plants, with a total capacity of 266 MW, and provides asset management services for a total of 403 MW of own and third-party projects. Headquartered in Getxo, Spain, Solarpack has a diversified geographical presence and employs over 140 people in 10 countries.
With net assets of over $20 billion, OPTrust invests and manages one of Canada’s largest pension funds and administers the OPSEU Pension Plan, a defined benefit plan with over 95,000 members and retirees.
OPTrust is a global investor in a broad range of asset classes including Canadian and foreign equities, fixed income, real estate, infrastructure and private markets, and has a team of highly experienced investment professionals located in Toronto, London and Sydney. As a pension management organization, OPTrust’s mission is to pay pensions today, preserve pensions for tomorrow.
About Bruc Management
Bruc Management, founded in 2016 by Juan Béjar, Macquarie Capital and Ontario Pension Trust, one of Canada’s largest defined benefit pension plans, began its investments in Japan, where it currently has 60 MW in solar power plants. The company is an investment fund manager specializing in the renewable energy infrastructure sector, developing a business plan oriented mainly towards OCDE countries, although analyzes selectively other opportunities in Europe, Central and South America.
About Juan Béjar
Double degree in Law and Business Administration from Comillas Pontifical University (ICADE), Juan Bejar is founder and Executive Chairman of Bruc Management. Until July 2015 he was Vice-Chairman and CEO of FCC, where he led the restructuring of the company. During this period, Bill Gates, George Soros and Carlos Slim joined the company as shareholders.
Previously, he was Head of Citigroup Infrastructure Management, as well as CEO of the infrastructure department of Ferrovial.
Currently, in addition to Bruc, Juan Béjar is Chairman of Globalvia, Senior Advisor of Greenhill and Board director of Metrovacesa.
About Green Investment Group
GIG is a specialist in green infrastructure principle investment, project development and the management of portfolio assets and related services. Its track record, expertise and capability make it a global leader in green investment, dedicated to supporting the growth of the global green economy.
Operating as part of the Macquarie Group, the platform has more than 400 staff working in over 15 countries across Europe, North America, Asia and Australia, combining international best practice from across Macquarie’s activities.
Macquarie Group Limited (Macquarie) is a diversified financial group providing clients with asset management and finance, banking, advisory and risk and capital solutions across debt, equity and commodities. Founded in 1969, Macquarie employs 15,715 people in 30 markets. At 31 March 2019, Macquarie had assets under management of £305.8 billion.