Capital Dynamics has acquired the 50MW Puerto Real 2 solar project in Spain from WElink Group.
The global private asset manager said its Clean Energy Infrastructure (CEI) business has bought the subsidy-free project, located in the town of Puerto Real in Southern Spain.
Capital Dynamics, which acquired the neighbouring 133MW Puerto Real 1 project in March last year, said the latest deal is the CEI team’s third acquisition in Iberia.
Construction of Puerto Real 2 will commence in March and is expected to achieve commercial operations in the first quarter of 2022.
Once the project is operational, Capital Dynamics will have invested in over 480MW of subsidy-free solar projects in Spain.
Dario Bertagna, director, Clean Energy Infrastructure, said: “Puerto Real 2 is a natural addition to our existing portfolio and further strengthens our capability to provide affordable, subsidy-free renewable energy to Southern Spain.
“The project will benefit from Puerto Real 1’s existing development infrastructure, including the continuation of employment opportunities for the local labour force. We also look forward to strengthening our partnership with WElink as we continue the development and construction of clean energy projects across Europe.”
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