The portfolio is made up of three 120 MW concentrated solar power plants that Q-Energy Asset Management refinanced in May. Not to be confused with Australia’s electricity retailer, Q-Energy Asset Management was created by Spanish developer Fotowatio Renewable Ventures (FRV) as its financial, legal and technical asset management arm.

Specifically, the 120 MW concentrated solar plant portfolio is made up of a 20 MW Gemasolar tower plant, the first solar plant in the world which can operate 24 hours a day, and two 50 MW parabolic trough solar parks.

Located in Andalusia, the southmost region in Spain, the portfolio has been in operation since 2011, with Macquarie describing its owner, Q-Energy, as having an established track record operating solar farms, CSP plants and wind parks across Western Europe.

Macquarie Asset Management added its investment was made “on behalf of its institutional clients via a bespoke, long-dated, subordinated debt financing.”

The project marks the fourth financing contract between Macquarie and Spain’s Q-Energy. Since 2012, Macquarie Asset Management has invested approximately €2.6 billion (AU$4 billion) across more than 35 renewable energy projects, with a total installed capacity of approximately 13.7 GW.

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