Bruc Secures €474 Million Refinancing To Back 858 MW Solar Plants And 650 MW Battery Storage Capacity Across Spain

Bruc has announced that it has refinanced €474 million to support 858 MW of operational solar plants and 650 MW of planned energy storage capacity. The company secured this non-recourse financing from a consortium of lenders that includes BNP Asset Management, Banco Santander, Banco Sabadell, Export Development Canada (EDC), and Banco Cooperativo. Banco Santander and Astris Finance served as advisors for the transaction.

The refinancing will be applied to existing debt linked to 858 MW of photovoltaic plants located in Andalusia, Aragon, and Extremadura. As this transaction has been classified as a green loan, it aligns with Bruc’s sustainability goals and long-term strategy. The financing also supports the integration of Battery Energy Storage Systems (BESS) as a core element of the company’s future operations. The assets covered under this transaction are owned by a company jointly held by Bruc Energy, with a 51 per cent stake, and Interogo, with 49 per cent.

This refinancing structure has been designed to enhance operational flexibility, optimise revenue streams, and strengthen the company’s management of commercial exposure. It also includes the option to finance up to an additional 650 MW of BESS through co-located projects operating under hybrid Power Purchase Agreements.

To support this, an accordion tranche dedicated specifically to battery investments has been introduced, which will be activated based on predefined technical, commercial, and financial conditions. This approach makes it possible to incorporate storage systems within the existing financing framework.

Overall, the model reinforces Bruc’s position in the evolving Iberian energy market by establishing storage as a scalable and bankable extension of its operational portfolio. Chief Executive Officer Luis Venero noted that Bruc is among the pioneers in securing financing for solar assets paired with battery systems, signalling strong confidence from financial institutions in the company’s business plan and long-term strategy.