Capital Dynamics has completed the acquisition of the 50MW Puerto Real 2 solar farm in Spain from WElink Group for an undisclosed price.
The subsidy-free project, located in the town of Puerto Real in Cadiz province, will neighbour the 133MW Puerto Real 1 project, which Capital Dynamics acquired from WElink in March 2020.
Construction of Puerto Real 2 will start this month, with commercial operations expected 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.
During construction around 150 workers, many from the local area, will be employed on the build, Capital Dynamics said.
Capital Dynamics clean energy infrastructure director Dario Bertagna 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 labor force.
“We also look forward to strengthening our partnership with WElink as we continue the development and construction of clean energy projects across Europe.”
Baker McKenzie acted as legal counsel to Capital Dynamics on the acquisition and Everoze served as technical advisor.