Macquarie : BRUC Capital and Macquarie Capital sign €90 million investment programme to acquire IBC SOLAR’s project pipeline in Japan

Madrid, London, Tokyo, 26 Sep 2016

BRUC Capital (BRUC) and Macquarie Capital have signed a framework agreement for an investment programme with IBC SOLAR to acquire up to 37 MW of photovoltaic solar projects in Japan. The investment for the potential pipeline of 27 assets is estimated to be up to €90 million with the portfolio to be developed over a 2-3 year period.

The agreement is BRUC Capital's first investment and also includes preferential rights for BRUC and Macquarie Capital to acquire IBC SOLAR's broader pipeline of solar projects in Japan for the next three years, estimated at up to 165MW in additional capacity.

Juan Béjar, President of BRUC, said: 'The agreement is a considerable step forward for BRUC Management and its investment focus in the renewable energy sector on a global scale.'

Daniel Wong, Head of Macquarie Capital Europe said: 'We are pleased to have partnered with BRUC on their first investment in the renewable energy space. This portfolio represents a good example of European renewables expertise and capital flowing into Asia and demonstrates Macquarie Capital's ongoing support of new platforms in the green energy sector.'

Japan is the world's third largest solar power market, after Germany and China. Its total installed capacity at the end of 2015 reached 34 gigawatts (GW) accounting for 3.5 per cent of the annual power demand.

About BRUC Management
BRUC Management and its investment vehicle BRUC Capital manage and invest in infrastructure projects focusing firmly on electrical installations in both Spain and abroad, mainly in OECD countries.

The strategy of the company, which is formed by executives from firms including FCC (Juan Béjar), Ono (Eugenio Galdón) and Hidrocantábrico (Joaquín Coronado), is focused on creating value from investment in greenfield assets and their subsequent rotation. For this purpose they will create portfolios, diversified by technology and market, in order to adjust the risk profile to the long term institutional investors' demand. This approach will let BRUC become an important agent in the reorganization of a sector in crisis through the integrated model of construction and concessions.

About Macquarie
Macquarie Group (Macquarie) is a global provider of banking, financial, advisory, investment and funds management services. Founded in 1969, Macquarie operates in more than 64 office locations in 28 countries and employs more than 14,300 people. Assets under management total approximately €322 billion at 31 March, 2016.

Macquarie has been an active investor and adviser in the renewable energy and clean technology sectors for over 15 years. Drawing on its global network, sector expertise and strong record, Macquarie is supporting the transition to a lower carbon economy by servicing clients across various renewable energy technologies including solar, wind, waste to energy, geothermal, biomass and energy efficiency. Since 2010 Macquarie and Macquarie-managed funds globally have invested or arranged €6.9 billion of capital into renewable projects.

About IBC SOLAR
IBC SOLAR, founded 1982 in bad Staffelstein/Germany, is a leading global solutions and services provider for photovoltaics and energy storage. The family-owned and operated company offers complete solutions for power production from solar energy and covers the entire spectrum, from planning to the turnkey handover of photovoltaic installations. Globally, IBC SOLAR has already implemented photovoltaic systems with a total capacity of more than 3 gigawatts (GWp). The scale ranges from solar parks, which feed electricity into the grid, to systems for residential and commercial self-consumption, off-grid systems and large-scale storage. IBC SOLAR plans, implements and offer large scale solar projects worldwide. Through maintenance and monitoring, IBC SOLAR ensures an optimal performance of the solar parks.

Contact
Macquarie Group
Nicole Grove
Nicole.grove@macquarie.com
+44 77 6545 2193

BRUC:
Beatriz Garrido
comunicacion@brucmanagement.com
629213746