Capital Dynamics buys 133MW solar farm in Spain

The solar farm could reduce greenhouse emissions by more than 175,000 tonnes and employ up to 300 workers in the course of its lifetime

Independent asset management firm Capital Dynamics has completed the acquisition of the 133MW Puerto Real 1 project in Iberia, Spain.

The solar project forms part of the firm’s Clean Energy Initiative and is estimated to reduce greenhouse emission by more than 175 tonnes a year once operational.

In addition, the project is expected to employ more than 300 workers in the course of its lifetime.

Simon Eaves, Managing Director & Head of European Clean Energy Infrastructure team, said: “Spain remains an attractive market for new renewable power generation as the country has one of the highest solar resources in Europe and a favourable operating environment with low development costs.

“The acquisition of the Puerto Real 1 project accelerates our investing momentum in Southern Europe and reinforces the scale of our European Clean Energy Infrastructure business.”

The subsidy-free project is projected to become commercially operational by the first quarter of 2021.

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