Capital Dynamics Acquires 18MW Italian Solar Project from Solar Ventures

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Capital Dynamics, an independent global private asset management firm, and Solar Ventures S.r.l., a leading Italian solar developer, today announced that Capital Dynamics’ Clean Energy business has acquired a 100 percent equity stake in the Cliff solar PV project (“Project Cliff” or “the Project”) from Solar Ventures.

Project Cliff, a 18MW shovelready, subsidyfree solar PV project located in Sicily, Italy, will begin construction this year and is expected to reach commercial operations in 2023. The Project will be supported by a longterm power purchase agreement. “We are thrilled to be partnering with Solar Ventures on Project Cliff, which will provide affordable, subsidyfree renewable energy to southern Italy, said Dario Bertagna, CoHead of Capital Dynamics Clean Energy.

As one of the most attractive locations for efficient, solar power generation, Italy is uniquely positioned to help lead Europe’s transition to renewable energy sources. We see significant opportunity for additional solar PV projects in Italy and look forward to supporting this transition through our investment and management expertise.”

Renewable sources represent the future of the energy sector, and we are delighted that Capital Dynamics shares this vision,” said Michele Appendino, Chairman & CEO of Solar Ventures. “Through this new collaboration, we want to boost the construction of clean energy projects and satisfy the growing demand for sustainability from investors and citizens.

Once operational the Project is estimated to be able to generate approximately 37GWh of clean energy per annum providing the electricity to power over 5,000 homes per year. Local contractors will participate in Project Cliff’s construction and operational phases and are expected to employ workers from the local area.

Capital Dynamics is one of the largest owners of subsidyfree renewable energy projects in southern Europe with over 570 MWp of capacity installed, including 87.2 MWp in Italy. The Clean Energy strategy was established to capture attractive investment opportunities in the largest and fastest growing sector of global infrastructure proven renewable energy technologies, with a focus on utilityscale and distributed generation, solar and wind.

The Platform’s dedicated asset management business provides highlyspecialized services to help ensure optimal performance and value from projects. Norton Rose Fulbright acted as legal counsel to Capital Dynamics on the acquisition, while JLL served as financial advisor, PwC TLS assisted on the tax and accounting due diligence, and Everoze Partners Limited acted as technical advisor