Capital Dynamics has acquired a 100% equity stake in six solar photovoltaic assets in Spain, as part of two acquisitions.

All six assets have entered into pay-as-produced power purchase agreements with an unnamed S&P 500 company.

The first acquisition comprises a 157MW portfolio made up of three construction-ready solar PV assets in Andalucía, Spain. These projects are under construction with completion expected by the end of 2024.

The second acquisition is a 160MW portfolio consisting of three fully consented, construction-ready solar PV assets located in the Aragon province of Spain. These assets have secured the environmental and planning permissions, namely the Declaración de Impacto Ambiental and the Autorización Administrativa de Construcción, making them ready for immediate construction. The portfolio is expected to reach commercial operation in the second half of 2025.

Dario Bertagna, Co-Head of Capital Dynamics Clean Energy, said: “These acquisitions represent a significant addition to our portfolio from our exclusive pipeline of proprietary deals in Spain.

“Spain continues to be a prime market for our investment strategy, and we expect to deploy substantial capital in the region. Spain’s robust PPA market enables us to mitigate risk and enhance asset returns.

“With increasing government support and the anticipated stabilisation of rates across Europe, the upcoming year is crucial for creating value for our investors and contributing to a more sustainable future.”

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