May 7 (Renewables Now) - Asset manager Capital Dynamics has finalised the acquisition of a 100% equity stake in the 133-MW Puerto Real 1 solar photovoltaic (PV) project in Spain.
The firm’s Clean Energy Infrastructure (CEI) business purchased the project from Ireland-based WElink Group for an undisclosed sum, Capital Dynamics said on Wednesday.
Puerto Real 1 is a subsidy-free project and will operate under a long-term power off-take agreement.
The project site is located in Cadiz province in the Spanish southern region of Andalusia. The solar farm is scheduled to start commercial operations in the first quarter of 2021.
With Puerto Real 1 online, Capital Dynamics will manage over 430 MW of subsidy-free solar farms in Spain.