Capital Dynamics has acquired a 100% equity stake in two fully consented, construction-ready solar PV projects located in Sicily, Italy, from an unnamed global energy service provider.
The developments will be supported by long-term PPAs.
Co-head of Capital Dynamics Clean Energy Dario Bertagna said: “We are pleased to continue expanding our portfolio of subsidy-free solar assets in Italy, which remains one of the most exciting solar market in Europe.
“Thanks to this additional acquisition, our Italian subsidy-free footprint increases to over 500MW, demonstrating our commitment to being a major supporter of Italy’s energy transition.”
Once operational, the projects are estimated to generate approximately 324GWh of clean energy per annum – equivalent to over 87,000 tonnes of avoided CO2 emissions and enough electricity to power over 63,500 homes per year.
This additional investment will increase Capital Dynamics’ gross annual generation capacity in Italy to reach ca. 1TWh per year, making it a solid contributor to Italy’s energy mix.
The projects will employ local contractors for both the construction and operational phases and commit to invest €1.8m in local community support.