Australian financial group Macquarie Asset Management on Monday announced a €90 million ($109 million) debt investment in a portfolio of concentrated solar power (CSP) plants in southern Spain.
The portfolio consists of three 120 MW CSP plants that Q-Energy Asset Management refinanced in May. The 120 MW concentrated solar plant portfolio is made up of a 20 MW Gemasolar tower plant, the first solar plant in the world which can operate 24 hours a day, and two 50 MW parabolic trough solar parks.
The portfolio in Andalusia has been in operation since 2011, with Macquarie describing its owner, Q-Energy Asset Management, as having an established track record operating solar farms, CSP plants and wind parks across Western Europe. Q-Energy Asset Management was created by Spanish developer Fotowatio Renewable Ventures (FRV) as its financial, legal and technical asset management arm.
Macquarie Asset Management said that its investment was made “on behalf of its institutional clients via a bespoke, long-dated, subordinated debt financing.”
The project marks the fourth financing contract between Macquarie and Spain’s Q-Energy. Since 2012, Macquarie Asset Management has invested approximately €2.6 billion in more than 35 renewable energy projects, with a total installed capacity of approximately 13.7 GW.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.