Capital Dynamics, an independent Swiss global private asset management firm, has announced the acquisition of a 100% stake in two solar portfolios consisting of six projects in Andalusia and Aragon, Spain.

According to the company’s statement, these six assets have also entered into pay-as-you-go (PaP) power purchase agreements with an S&P 500 company.

The Andalusian portfolio includes 157 MWp of solar projects currently under construction, expected to be completed by the end of 2024. The Aragon portfolio, comprising 160 MWp, includes projects that are ready for construction and fully authorized, possessing both the Environmental Impact Declaration (DIA) and the Administrative Construction Authorization (AAC). These projects are projected to commence commercial operations in the second half of 2025.

Dario Bertagna, Co-Head of Clean Energy at Capital Dynamics, remarked, “Spain remains a prime market for our investment strategy, and we look forward to deploying substantial capital in the region. Spain’s strong PPA market allows us to mitigate risk and improve asset returns. With growing government support and expected stabilization of rates across Europe, the coming year is crucial to creating value for our investors and contributing to a more sustainable future.”

Capital Dynamics, which has been active in the Spanish market since 2013, currently owns and operates nearly 2 GW of subsidy-free assets.