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Bruc Energy has reached an agreement with Alter Enersun to purchase 55% of 12 solar photovoltaic power plants totaling 550 MW. Both companies have set up a new company that will be called Bruc Alter Enersun and that will integrate these assets, all of them in the construction and advanced development phase in Andalusia and Extremadura. Alter will have 45% of the capital of this new company.
The agreement comes as a result of the complementarity of strengths of the two companies and a long-term vision of the renewable energy production 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 put into operation in March the first investment of the joint venture, a photovoltaic solar power plant called “Huelva 2021” and occupies 95 hectares in the municipality of Huelva. Its 113,000 solar panels have an installed capacity of 50 MW, which can produce 100 GWh per year, which means the consumption of 30,133 homes. It will avoid the emission of 18,735 tons of CO2 per year.
Juan Béjar believes that this operation “consolidates Bruc as one of the relevant players in the renewable energy sector in Spain”. In his opinion, “the decarbonization 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 the strong growth rate of Alter Enersun, “which will now be accelerated by the agreement with Bruc Energy”. The CEO of Alter is committed to “collaboration between companies and with institutions for the advancement of the Sustainable Development Goals (SDGs), particularly those that pursue 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 located in Japan, where it has a portfolio of 60 MW, it has had a rapid development in Spain in recent months. With the operation 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 the production of photovoltaic energy in the Iberian Peninsula. It currently has more than 140 rooftop and ground installations in Spain and Portugal and is developing 1,000 MW of photovoltaic and wind power, of which 50% will begin construction before the end of 2021.