Macquarie spends EUR90m in Spanish solar

• 120MW portfolio consisted of the 20MW Gemasolar tower plant and 2 50MW allegorical trough solar parks

Macquarie Asset Management has is to invest EUR90m in a portfolio of concentrated solar power plants in southerly Spain.

The 120MW portfolio is included the 20MW Gemasolar tower plant and 2 50MW allegorical trough solar parks, Valle 1 as well as Valle 2.

The projects, located in Andalusia, produce enough eco-friendly energy to power the matching of greater than 84,000 Spanish families and avoids 126,000 tonnes of carbon discharges annually, said the capitalist.

The portfolio has actually functioned because 2011 and its owner Q-Energy, a European renewable energy asset supervisor, has an established track record in running solar PV ranches, CSP plants and wind parks in Spain, Germany and also various other OECD nations.

Macquarie Asset Management's investment was made in behalf of its institutional customers through a bespoke, long-dated, subordinated financial debt financing.

Taking Care Of Director in Macquarie Asset Management's personal credit group Tom van Rijsewijk said; "Spain has actually established an enthusiastic target of raising its renewable resource capacity to 60GW by 2030, including 5GW of brand-new CSP capability. We are delighted to once more partner with Q-Energy to support Spain's power change, supplying flexibility as well as tidy power to the grid with this innovative CSP modern technology."