Bruc Energy raised $554 million in non-recourse financing to refinance debt of its 858MW solar portfolio in Spain and to finance the addition of 650MW of new battery energy storage systems (BESS) at the facilities.
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Counterparts (5)
Lender
B
BNP AM
company
BNP Paribas Asset Management is a global asset manager offering a wide range of investment solutions with a strong focus on sustainable and responsible investing. They actively invest in infrastructure, particularly renewable energy and energy transition assets, through both equity and debt strategies across various geographies.
Santander
company · 7 deals
Banco Santander is a global financial institution offering a range of services including retail banking, corporate and investment banking, asset management, and consumer finance. The company focuses on building lasting loyalty among its shareholders and supporting education, employability, and entrepreneurship.
Banco Sabadell
company
Banco Sabadell is a Spanish financial institution that provides banking services and financing solutions. They participate in infrastructure projects as a lender.
Export Development Canada
company
Export Development Canada (EDC) is a financial Crown corporation dedicated to supporting and developing Canada's export trade by helping Canadian companies respond to international business opportunities. EDC provides financing, insurance, bonding, and knowledge solutions to Canadian exporters and investors and their international buyers.
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Source Intelligence
KEY DETAILS
The financing will allow for the future financing of 650MW of new BESS at the facilities. Quote: The non-recourse financing will be used to refinance the debt of the portfolio, which consists of projects in the regions of Andalusia, Aragon and Extremadura, and allows for the future financing of 650MW of new BESS at the facilities.
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Deal Size
BRUC has raised €474 million (US$554 million) to facilitate the addition of battery energy storage systems (BESS) to an existing solar PV portfolio of 858MW in Spain.
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Capacity
BRUC has raised €474 million (US$554 million) to facilitate the addition of battery energy storage systems (BESS) to an existing solar PV portfolio of 858MW in Spain.
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Location
BRUC has raised €474 million (US$554 million) to facilitate the addition of battery energy storage systems (BESS) to an existing solar PV portfolio of 858MW in Spain.
The non-recourse financing will be used to refinance the debt of the portfolio, which consists of projects in the regions of Andalusia, Aragon and Extremadura, and allows for the future financing of 650MW of new BESS at the facilities.
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PPA Details
The company noted that power generated at these projects, should they be co-located with batteries, would be sold under “hybrid” power purchase agreements (PPAs), “subject to previously agreed technical, commercial and financial parameters”.
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Announcement
By JP Casey January 5, 2026
PARTIES MENTIONED IN SOURCE
B
BRUC
developer
"Spanish renewable energy developer BRUC has raised €474 million (US$554 million) to facilitate the addition of battery energy storage systems (BESS) to an existing solar PV portfolio of 858MW in Spain."
B
Banco Cooperativo
lender
"The financing comes from a number of organisations—Banco Cooperativo, Banco Sabadell, BNP AM, Export Development Canada and Santander—some of which have worked with the company in the past."
B
Banco Sabadell
lender
"The financing comes from a number of organisations—Banco Cooperativo, Banco Sabadell, BNP AM, Export Development Canada and Santander—some of which have worked with the company in the past."
B
BNP AM
lender
"The financing comes from a number of organisations—Banco Cooperativo, Banco Sabadell, BNP AM, Export Development Canada and Santander—some of which have worked with the company in the past."
E
Export Development Canada
lender
"The financing comes from a number of organisations—Banco Cooperativo, Banco Sabadell, BNP AM, Export Development Canada and Santander—some of which have worked with the company in the past."
S
Santander
lender
"The financing comes from a number of organisations—Banco Cooperativo, Banco Sabadell, BNP AM, Export Development Canada and Santander—some of which have worked with the company in the past."
high quality
Enriched Feb 19, 2026
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