Global private asset manager Capital Dynamics announced today the acquisition of a portfolio totaling approximately 317 megawatts-peak (MWp) of solar projects in Spain, alongside securing a power off-take agreement for their electricity output.
The acquired portfolio comprises six photovoltaic (PV) schemes, acquired through two separate transactions by Capital Dynamics' Clean Energy business. The first transaction involves three projects with a combined capacity of 157 MWp located in Andalucia, southern Spain, currently under construction and expected to commence operations by the end of this year.
In the second deal, Capital Dynamics' subsidiary has acquired three additional projects in the province of Aragon. These projects have obtained all necessary environmental and planning permits and are poised for construction, with commissioning targeted for the second half of 2025.
In addition to the acquisitions, Capital Dynamics has entered into pay-as-produced power purchase agreements (PPAs) for the future electricity output of the PV parks. The combined output is anticipated to meet the annual electricity needs of over 195,750 homes. The off-taker of the electricity is a large corporate buyer, although unnamed.
“Spain continues to be a key market for our investment strategy, and we anticipate deploying significant capital in the region,” commented Dario Bertagna, co-head of Capital Dynamics Clean Energy.
