Capital Dynamics, an independent global private asset management firm, has announced that its Clean Energy business acquired a 100% equity stake of two fully consented, construction-ready solar photovoltaic (PV) projects located in Sicily, Italy, from a global energy service provider. The projects will be supported by long-term power purchase agreements.
“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” said Da-rio Bertagna, Co-Head of Capital Dynamics Clean Energy. “Thanks to this additional acquisition, our Italian subsidy-free footprint increases to over 500 MW, demonstrating our commitment to being a major supporter of Italy’s energy transition.”
Once operational, the projects are estimated to generate approximately 324 GWh of clean energy per annum – equivalent to over 87 000 t of avoided carbon dioxide 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 approximately 1 TWh/y, 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 €1.8 million in local community support.
Capital Dynamics has been investing directly in clean energy assets in Europe since 2013 and currently owns and operates around 2 GW of subsidy-free assets. Capital Dynamics’ Clean Energy platform makes direct equity investments in carbon-reducing, renewable power generating projects from late-stage development through commercial operations. The Clean Energy team, including its dedicated asset management affiliate, Netro Energy, is comprised of over 35 specialised professionals with global capabilities, sector expertise and an extensive industry network.
Green Horse Advisory and Gianni Origoni & Grippo Partners acted as legal counsel to Capital Dynamics on the acquisition whilst EOS Consulting and Everoze Partners acted as technical advisors. PwC assisted on the tax and financial due diligence.
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