SDCL has acquired a 68-MW behind-the-meter solar portfolio in Iberia on behalf of its Global Energy Transition Fund (GETF), the company said on Thursday.
The commercial and industrial portfolio was developed by Capwatt and includes operational, under-construction and development-stage assets. “It said the commercial and industrial portfolio was developed by Capwatt and includes operational, under-construction and development assets,” SDCL noted.
The firm said the deal marks GETF’s first investment in the Iberian solar market and will support plans to deploy more than €100 million over the next year. The acquisition gives the fund immediate exposure to high-yield assets and strategic value in a key European energy-transition region, according to SDCL.
Capwatt, part of the Prismore Capital Group, will continue as developer, operator and asset manager. The portfolio spans sectors such as manufacturing, food and beverage, packaging and construction materials, and is supported by long-term power purchase agreements.
SDCL said the Global Energy Transition Fund raised €650 million at final close in October 2023 and has already committed more than 75% of its capital, backed by the EU’s InvestEU Fund.
Jonathan Maxwell, CEO of Sustainable Development Capital LLP, said: “We are delighted to be partnering with Capwatt on this exciting transaction, which will provide great exposure for GETF to one of Europe’s key energy transition markets.” He added that the scale of the portfolio highlights “strong opportunities for commercial and industrial energy efficiency solutions in southern Europe”.
Miguel Gil Mata, CEO of Prismore Capital, described the agreement as a “strategic milestone in Capwatt’s growth journey”, saying: “SDCL’s investment reflects strong confidence in the quality and long-term value of our projects, as well as in Capwatt’s capability to develop and manage high-performance assets that drive the energy transition.” He said the partnership establishes a foundation for accelerating the rollout of sustainable energy solutions across the region.
