Araoz & Rueda advised the shareholders of Luzentia on the sale of the solar park to British fund Cubico for around €140 million
The London fund Cubico Sustainable Investments has signed the purchase of Luzentia, a solar park located in Jumilla (Murcia) and with an installed capacity of 20MW. The plant, managed by the company Luzentia SA, located in Madrid, has been operating since 2008 and generates annual income from the sale of electricity of 12 million euros. It covers an area of one hundred hectares and groups two hundred solar plants of one hundred kilowatts of power.
This deal is Cubico´s fourth investment in the Spanish market, where it now controls 187MW.
The team from Araoz & Rueda was led by partner Francisco Solchaga (pictured) and included senior associate Laura Vintanel