Macquarie Asset Management has made €43m debt investment in a solar power plant in Spain owned by Q-Energy.

The manager said the debt financing was provided by its Green Energy Debt Fund and other managed funds.

The investment is in a 50MW capacity parabolic trough solar plant in the southern Spanish region of Andalusia. 

Tom van Rijsewijk, managing director, Macquarie Asset Management, said: “Patient institutional capital can play a key role in accelerating the energy transition by providing a stable source of long-term debt financing for the development and operation of green energy projects.

“Accessing such financing will be key for countries like Spain, which must scale its investment in the sector quickly in order to achieve its goal of installing a further 60GW of local renewable generation capacity by the end of this decade.”

The investment builds on previous financing agreements with Q-Energy, including a €90m debt investment in a 120MW portfolio of concentrated solar power plant announced in June.

Daniel Parejo, partner and CIO at Q-Energy, said: “Macquarie’s deep understanding of sustainable infrastructure and the low carbon transition make it an ideal partner for us as we seek to support the build-out of green generation capacity in the region.”

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