New joint venture to create 3.4 GW Spanish PV

• RPC and Benbros will collaborate on a portfolio of 14 projects in areas across Spain

Renewable Power Capital (RPC) has actually entered into a joint venture with Benbros Solar to establish 14 solar power projects throughout Spain amounting to 3400MW.

With the partnership, RPC as well as Benbros will certainly collaborate on a portfolio of 3.4 GW across the projects located within the regions of Andalucia, Extremadura, Castilla la Mancha, Aragon and Murcia.

The 50:50 joint endeavor marks RPC's entrance into the Spanish renewables market.

RPC is a renewables investment platform backed by the Canada Pension Plan Investment Board.

Spain is a "crucial target" for investment along with the Nordics, where RPC obtained a portfolio of onshore wind projects previously this year, due to the attractiveness of its renewable resource market in general and solar PV specifically.

Benbros is led by Rafael Benjumea that started and led FRV, a system for worldwide solar projects which started in Spain in 2005 and also has actually gone on to end up being "one of the leading solar business around the world" with projects throughout 6 continents.

Bob Psaradellis, Chief Executive Officer of RPC, was a member of FRV's board of directors following a financial investment in FRV in 2008.

Benjumea is additionally the president of the Spanish Solar PV Association (UNEF).

Psaradellis stated: "We're delighted to companion with Benbros on this interesting new growth. Having gotten on the Board of Directors for FRV, a Spanish-based solar system co-founded by the principals of Benbros, I have long-known the first-rate development proficiency of the team.

" Sustained by the market-leading investment capacities as well as flexible capital of RPC, I am confident this JV will help additionally speed up the renewables shift taking place in Spain."