Capital Dynamics has acquired an 80% equity stake in a co-located solar and battery energy storage project in Germany.
The hybrid project comprises a co-located 34MWp solar photovoltaic (PV) asset and 11.7MW battery energy storage system (BESS) in Saxony-Anhalt.
The deal marks Capital Dynamics’ first clean energy infrastructure investment in the country.
The company’s clean energy business acquired the stake from German renewables developer Münch Energie.
The hybrid project benefits from an offtake structure, including a fixed price corporate Power Purchase Agreement (PPA) and tariffs under the EEG innovation tender.
Senior managing director and co-head of clean energy at Capital Dynamics Dario Bertagna (pictured) said: “We are delighted to announce our first clean energy investment within Germany, a country benefitting from significant market and policy tailwinds within the clean energy sector.
“The investment is a testament to our commitment to accelerating the clean energy transition and delivering long-term, sustainable value to our investors and local communities.
“As a strategic growth market for us, Germany is somewhere we expect to deploy significant capital in future. We see growing momentum for clean energy projects in the market as heightened price volatility creates upside for co-location and hybrid strategies, particularly solar-plus-storage.”