A 121 MWp Spanish solar project in Luxcara’s portfolio has issued debt in accordance with the German Investment Ordinance for infrastructure debt.
Luxcara advised on structuring the project financing, which privately placed a mid double-digit million-euro amount of senior secured Schuldschein loans as project bonds with two German pension funds (Versorgungswerke). The financing secures the construction and commissioning of the solar farm Guillena-Salteras in Southern Spain. Equity is provided by a renewable energy fund for institutional investors, which is also advised by Luxcara.
It is the first Schuldschein loan of its kind for a solar project based on a power purchase agreement in Europe.
The solar project Guillena-Salteras is located north of Seville in Andalusia, one of the sunniest locations in all of Europe. The off-taker based on a PPA is Alpiq. With a capacity of approximately 121 MW, the solar plant will provide more than 53,000 Spanish households with renewable energy.
