- Through the partnership, RPC and Benbros will work together on a portfolio of 3.4GW across the projects located within the regions of Andalucía, Extremadura, Castilla la Mancha, Aragon and Murci
- Spain is a European leader in the renewable energy transition and is expected to achieve a renewable energy capacity of 50GW by 2025
Renewable Power Capital has announced that it has entered into a 50:50 joint venture with Benbros Solar S.L. to develop 14 solar energy projects across Spain. Through the partnership, RPC and Benbros will work together on a portfolio of 3.4GW across the projects located within the regions of Andalucía, Extremadura, Castilla la Mancha, Aragon and Murci
Rafael Benjumea, CEO of Benbros, added: “This partnership with RPC presents us with a fantastic opportunity for growth. We have been leaders in Spanish-based solar for some time and the region in which we operate is a well-known market for subsidy-free financing. Our expertise and RPC’s flexible mandate position us as the partner of choice for developers in the region.”
Solar levelised cost of energy
Spain is a European leader in the renewable energy transition and is expected to achieve a renewable energy capacity of 50GW by 2025. Due to the country’s strong solar resource, it boasts the lowest solar levelized cost of energy (LCOE) in Europe.
Bob Psaradellis, CEO, Renewable Power Capital, said: “We’re delighted to partner with Benbros on this exciting new development. Having been on the Board of Directors for FRV, a Spanish-based solar platform co-founded by the principals of Benbros, I have long-known the world-class development expertise of the team. Supported by the market-leading investment capabilities and flexible capital of RPC, I am confident this JV will help further accelerate the renewables transition taking place in Spain.”
