Global private asset manager Capital Dynamics said on Wednesday that it has acquired a portfolio with three solar PV projects totalling 110 MW in Italy through its clean energy business.
The seller was not named, being described only as a “leading international developer”. Financial details were also kept under wraps.
Capital Dynamics Clean Energy completed the purchase in two phases. Two projects were bought in September 2022 and are now under construction. They are expected to reach commercial operations in the third quarter of 2023.
Construction of the third project, which was acquired in March, will commence in the third quarter of this year. Commercial operations are expected in 2024.
Once up and running, the three solar farms will generate some 220 GWh of electricity per year. This output will be placed under long-term power purchase agreements (PPAs), Capital Dynamics said.
Capital Dynamics Clean Energy now has 323 MW of subsidy-free renewable energy projects in Italy, Dario Bertagna, co-head of the business, said in a statement.
“We continue to see significant opportunities for clean energy investments in Italy and look forward to supporting the energy transition through our investment and management expertise,” Bertagna added.
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