Capital Dynamics has acquired a 317MW solar portfolio in Spain which is covered by power purchase agreements.
Capital Dynamics has acquired six PV assets in Spain, as part of two acquisitions.
All six assets have also entered into pay-as-produced (PaP) power purchase agreements with an S&P 500 company.
The first acquisition includes a 157MW portfolio made up of three projects in Andalucia, under construction.
They are expected to be completed by the end of 2024.
The second acquisition represents a 160MW portfolio consisting of three fully consented, construction-ready solar PV assets located in the Aragon province.
These assets have secured the environmental and planning permissions, positioning them for immediate construction.
The portfolio is expected to reach commercial operations in the second half of 2025.
“These acquisitions represent a significant addition to our portfolio from our exclusive pipeline of proprietary deals in Spain,” said Capital Dynamics Clean Energy co-head Dario Bertagna.
He added: “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.”