Capital Dynamics completes acquisition of Puerto Real 1 Solar Project in Andalucia
Capital Dynamics, an independent global private asset management firm, through its Clean Energy Infrastructure (CEI) business has completed the acquisition of a 100% equity stake in the 133 MW Puerto Real 1 project from WElink Group (WElink), a leading global developer of renewable energy solutions.
Puerto Real 1 is the CEI team’s second acquisition in Iberia and is expected to be one of the largest utility-scale solar PV facilities in Spain upon achieving commercial operations in the first quarter of 2021.
The subsidy-free project, located in the town of Puerto Real (Cadiz province) in Southern Spain, has a long-term power offtake agreement. Once operational, Capital Dynamics will manage over 430 MW of subsidy-free solar projects in Spain.
The Puerto Real 1 project is estimated to reduce greenhouse emissions by over 175,000 metric tons once fully operational – the equivalent of emissions produced by 38,000 passenger vehicles driven for a year or the electricity to power almost 30,000 homes for a year.
The terms of the transaction were not disclosed.
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