Bruc Secures €650m Green Loan To Accelerate Spanish Renewable Buildout

• Madrid-based Bruc taps a €650 million green refinancing to scale its 6.6-GW solar-wind pipeline and hybrid battery projects across Spain.

Spanish renewable-energy investor Bruc Energy has closed a €650 million green loan that will refinance an earlier corporate facility and free up capital to speed construction across its 6.6-GW development pipeline. The fresh funding, announced on Thursday, mirrors—but also improves on—the terms of a €600 million package sealed in September 2023, underscoring lenders’ confidence in Bruc’s build-out strategy.

The facility was structured by a syndicate of international banks and institutional investors. Schroders Capital and Infranity joined Spain’s state-owned Instituto de Crédito Oficial (ICO), while BNP Paribas, Banco Santander and ING acted as mandated lead arrangers; Santander and ING additionally assumed the role of green-loan coordinators. Italian lender Intesa Sanpaolo, part of the original 2023 deal, opted not to participate this time around. 

Proceeds will support both new utility-scale solar and onshore wind farms and the hybridisation of existing assets through battery storage retrofits—an increasingly common requirement under updated Spanish grid-connection rules. Bruc already operates 1.96 GW of capacity, has 487 MW under construction and a further 4.15 GW moving through late-stage permitting.

Backed by Canadian pension fund OPTrust and the UK’s Universities Superannuation Scheme (USS), the Madrid-headquartered company generated 1.65 TWh of clean electricity in the first half of 2025—enough to supply roughly 420,000 homes and avoid more than 760,000 tonnes of CO₂. Executives said the refinancing gives Bruc “maximum flexibility” to lock in equipment orders and hedge interest-rate risk as Europe’s supply chain remains volatile.

Spain added a record 7.1 GW of solar last year and is targeting 81 GW by 2030, making low-cost capital critical for developers. By converting its corporate line into a certified green loan, Bruc gains access to sustainability-linked pricing that can tighten margins if it meets generation-and-emissions milestones—savings that could be reinvested in transmission upgrades and community benefit funds.

With the deal closed, construction tenders for Bruc’s next 300 MW tranche are expected to launch before year-end, keeping the company on track to commission at least 1 GW annually through 2027.