Alter Enersun has reached an agreement with Bruc Energy to acquire a 55% stake in 12 solar photovoltaic plants with a combined capacity of 550 MW. Both companies have set up a new company, to be called Bruc Alter Enersun, which will integrate these assets, all of them currently under construction or at an advanced stage of development in Andalusia and Extremadura. Alter will hold 45% of the share capital of this new company.
The agreement comes as a result of the complementary strengths of the two companies and a long-term vision for the renewable energy generation business in Spain. The new company will be led by Juan Béjar on behalf of Bruc and José Luis Morlanes on behalf of Alter Enersun.
Bruc Alter Enersun will commission the joint venture’s first investment in March, a solar photovoltaic plant called “Huelva 2021”, which covers 95 hectares in the municipality of Huelva. Its 113,000 solar panels provide an installed capacity of 50 MW and can generate 100 GWh per year, equivalent to the electricity consumption of 30,133 households. It will prevent the emission of 18,735 tonnes of CO2 per year.
Juan Béjar believes that this transaction “consolidates Bruc as one of the key players in the renewable energy sector in Spain”. In his view, “the decarbonisation of the economy is an environmental duty and, at the same time, an opportunity to attract investment and generate industrial employment”.
José Luis Morlanes, for his part, highlights Alter Enersun’s strong pace of growth, “which will now be accelerated by the agreement with Bruc Energy”. Alter’s CEO is committed to “collaboration between companies and with institutions in order to advance the Sustainable Development Goals (SDGs), particularly those aimed at environmental sustainability”.
Bruc Energy is one of the investment vehicles of Bruc Management, a fund manager operating in the renewable energy sector. Although its first investments were made in Japan, where it has a 60 MW portfolio, it has seen rapid growth in Spain in recent months. With the transaction carried out with Alter Enersun, Bruc now has nearly 1,500 MW in operation or under development in the Iberian Peninsula.
Alter Enersun was established in 2009 with the vision of becoming one of the leading companies in the renewable energy sector, specifically in photovoltaic energy generation in the Iberian Peninsula. It currently has more than 140 rooftop and ground-mounted installations in Spain and Portugal and is developing 1,000 MW of photovoltaic and wind power projects, of which 50% will begin construction before the end of 2021.