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Asset manager Luxcara acquires another solar project in Spain

Asset manager Luxcara GmbH acquired the planned 30-MW Utrilla solar project in southern Spain for a portfolio for institutional investors. Financial terms of the deal were not disclosed.

The proposed project is adjacent to the El Salobral solar project, which Luxcara acquired in 2017. "The immediate vicinity of the two solar farms allows us to create considerable synergies. For example, the substation of El Salobral will be used by Utrilla as well," said Philip Sander, managing partner of Luxcara, in an Oct. 7 news release.

The projects, developed by Hive Energy, have a total capacity of 75 MW. Utrilla is expected to connect to the grid in the second half of 2020.