Luxcara, one of the leading asset managers for renewable energy investments, has again pioneered the structuring of project financing solutions. A Spanish solar project in Luxcara’s portfolio has issued debt in accordance with the German Investment Ordinance for infrastructure debt, section 2 (1) no. 4c.
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 (“PPA”) in Europe and builds on Luxcara’s unique track record in this area. Such green Schuldschein loans enable institutional investors to support the energy transition not only with equity but with other asset class quotas as well. Luxcara has already advised the financing of two Norwegian wind projects, each with a lower triple-digit million-euro amount by leading European insurance companies through privately-placed project bonds.
“The demand for sustainable investment opportunities for available quotas is huge. We have proven to entirely meet the requirements of investors,” Dr. Alexandra von Bernstorff, Managing Partner of Luxcara, states.
The solar project Guillena-Salteras is located north of Seville in Andalusia, one of the sunniest locations in all of Europe. The offtaker based on a PPA is Alpiq, a leading Swiss energy services provider and electricity producer. With a capacity of approximately 121 MW, the solar plant will provide more than 53,000 Spanish households with renewable energy.
Luxcara is an independent asset manager offering institutional investors equity and debt investment opportunities in the international renewable energy market. The owner-managed company was founded in 2009. Luxcara acquires, structures, finances and operates renewable energy and related infrastructure projects as a long-term buy-and-hold investor. The company specializes in structuring free-market power purchase agreements.
Luxcara's portfolio includes solar and wind power plants across Europe with a total capacity of more than 2 gigawatt and an investment volume exceeding 3 billion euros. With this outstanding track record, Luxcara is one of Europe’s most experienced asset managers for renewable energy investments.
GFD - Gesellschaft für Finanzkommunikation mbH
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