Capital Dynamics acquires 50-MW solar project in Spain

Asset management firm Capital Dynamics AG, through its Clean Energy Infrastructure Business, completed the acquisition of the 50-MW Puerto Real 2 solar project from renewable assets developer WElink Energy Ireland Ltd. for an undisclosed amount, according to a March 3 news release.

The project is located in the town of Puerto Real in the Spanish province of Cadiz, with construction expected to begin in March and commercial operations projected to start in the first quarter of 2022. Once operational, Capital Dynamics' Clean Energy Infrastructure Business will have invested in over 480 MW of subsidy-free solar projects in Spain, the London-headquartered asset manager said in the news release.

In addition, the project neighbors the 133-MW Puerto Real 1 project, which Capital Dynamics acquired in 2020, and marks Clean Energy Infrastructure's third acquisition in Iberia.

Baker McKenzie acted as Capital Dynamics' legal counsel, while Everoze S.L. served as technical adviser.

Financial details of the transaction were not disclosed.