Bruc Energy to acquire 2-GW solar portfolio in Spain from Forestalia

Bruc Energy SLU, an investment vehicle of Spain-headquartered fund manager Bruc Management Projects SL, said Jan. 20 that it has entered an agreement to acquire a solar energy portfolio with a combined capacity of 2,000 MW in Spain from Forestalia Renovables SL.

The projects, located in the provinces of Zaragoza and Terue, Spain, have grid connection agreements in place and are in administrative processing, Bruc Energy, ultimately owned by OPTrust, manager of a Canadian pension fund, said in a news release.

Forestalia will continue to develop the projects and sell them to Bruc Energy when they reach ready-to-build status, according to the news release.

The deal is Bruc Energy's second with Forestalia. It earlier acquired seven solar project developments in the province of Zaragosa. The company recently closed two other deals for solar assets in Spain.