Spanish private equity firm BRUC has invested €2.26 billion (US$1.34 billion) to build solar PV projects in the Spanish autonomous community of Andalusia.
The Seville-based firm said €1.23 billion has already been invested into solar PV projects in Andalusia. A further €1.03 billion will be allocated in the next three years, bringing the company’s portfolio to 3.112GW nameplate capacity.
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The portfolio comprises 13 projects in operation, producing 795MW annually; 17 projects under construction, with a combined 850MW generation capacity; and 33 projects in development, set to produce 1,476MW. This latter group includes projects hybridised with energy storage, BRUC said. The portfolio is expected to be complete in 2028.
An investment of this magnitude is a significant development for the Spanish PV market, which is already one of the largest in Europe.
Spain’s national transmission system operator, Red Eléctrica, said that the country added 5.6GW of ground-mounted solar PV capacity in 2023. Andalusia was the autonomous community with the second-most installations, after Castilla La Mancha in the centre of the country.
Last month, renewable energy developer Alquila Capital was granted permits for a 700MW solar portfolio comprising five projects across three autonomous communities in Spain.
