Spanish Outfit Bruc, Germany’s IBC Solar to Develop 20-MW PV Portfolio in Japan
Bruc Japan, a renewables platform run by Spanish fund manager Bruc Management, signed a partnership agreement with German PV and energy storage developer IBC Solar to develop a 20-MW solar portfolio in Japan.
The duo plans to build 16 solar farms at several locations in Japan, Bruc Management announced on Monday. The projects will require an investment of some EUR 40 million (USD 48.8m) to have the plants built and in operation.
The solar farms will operate under a feed-in-tariff system and collect guaranteed revenues for 20 years, the Spanish fund manager added.
With the latest arrangement, Bruc Japan boosts the size of its portfolio to 60 MW of projects in operation, construction, and under development, according to Bruc Management.
The announcement comes on the heels of Bruc Management’s transaction to sell a 50% stake in Spain- and Portugal-oriented solar vehicle Bruc Energy to UK private pension fund, the Universities Superannuation Scheme (USS). Bruc Energy has 4,000 MW in the solar project pipeline and ambitions to grow beyond solar, Bruc Management highlighted.
(EUR 1.0 = USD 1.219)
Source: renewablesnow
