Luxcara, one of the leading asset managers for renewable energy investments, has acquired the solar project El Salobral located in the southern Spanish municipality of Espejo. El Salobral will be realized in late summer 2018. Completion and connection to the grid are planned for the second part of 2018. The plant is located between Córdoba and Málaga and will have a projected capacity of approximately 45 MWp. El Salobral will sell the produced electricity directly to an off-taker on the basis of a power purchase agreement (PPA).

The solar park is situated in the intensely sunny region of Andalusia. Because of its high specific yield, the location is exceptionally well suited to long-term solar power generation, which promises a reliable return for the investors. El Salobral was acquired for a portfolio for institutional investors.

"We are very happy to realize a solar project in Spain under free market conditions. El Salobral allows us to invest in a solar market with one of the strongest growth potentials in Europe," says Dr. Alexandra von Bernstorff, managing partner of Luxcara.