Capital Dynamics continues solar splurge with 353MW acquisition

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
One of Coronal Energy's completed sites in Arizona. Image: Coronal Energy.

Asset management firm Capital Dynamics has purchased a 353MW portfolio of North American solar projects from independent power product Coronal Energy.

The portfolio comprises 16 individual projects in Arizona, California, Florida, Virginia, Tennessee, and Ontario, Canada.

Switzerland-headquartered Capital Dynamics acquired the projects through its Clean Energy Infrastructure business, which owns over 7GW of projects in North America and Europe.

It said each of the projects in its latest acquisitions used commercially proven technology and was fully contracted under long-term power purchase agreements.

John Breckenridge, head of the Capital Dynamics’ CIE business, said: “We are very pleased to have completed this transaction with Coronal. These high quality, contracted assets will be an important addition to our 4.6 GW solar portfolio in the United States. Each of these assets serves a distinct role in meeting the clean energy needs of their respective markets in a safe, reliable and environmentally responsible manner.” 

Tim Short, managing director of Capital Dynamics, added: “This acquisition continues the CEI team’s strong track record as a provider of long-term, yield-producing capital to the renewable energy market – and delivering execution certainty to our partners in an increasingly dynamic environment.”

So far in 2020, Capital Dynamics has notched up several significant acquisitions. In January, it announced the purchase of the landmark 400MW Eland solar-plus-storage project in California from 8minute Solar Energy. Eland made headlines last year following the completion of a deal with Los Angeles Department of Water and Power to sell power at record-breaking low tariffs.

Then in May it revealed the acquisition of a 100% equity stake in Spain’s 133MW Puerto Real 1 project from developer WElink, its second project acquisition in Iberia.

6 October 2021
The future is bright for a new era of US solar and storage, and the 8th annual Solar & Storage Finance Summit will provide opportunities to discuss solutions to the industry’s challenges and provide a networking platform designed to bring together the top minds in the industry to do business. With a mix of high-level, informative presentations and panels, a stellar cast of speakers and audience members with deal-making capacity, the 2021 edition of the event will be a sell-out success.

Read Next

September 16, 2021
Energy engineering firm Babcock & Wilcox is to enter the US solar market through the acquisition of a majority stake in Illinois-based solar contractor Fosler Construction.
September 16, 2021
North American module manufacturer Silfab Solar has received an investment led by private equity firm ARC Financial Corp to help scale up its US PV production footprint.
September 14, 2021
Polish renewables developer PAD-RES is to be acquired by a joint venture established by real estate investor Kajima and private equity firm Griffin Real Estate.
PV Tech Premium
September 13, 2021
Following the release of the US Department’s Solar Futures Study, Liam Stoker assesses the downstream and upstream trends that must be realised for US solar to fulfil its potential.
September 13, 2021
The US House of Representatives has finally unveiled proposals which would extend the Solar Investment Tax Credit (ITC) for 10 years at 30%, but only for projects meeting certain labour conditions.
September 10, 2021
Renewables investor Magnora has increased its stake in Helios Nordic Energy as the Swedish solar developer looks to add 1GW to its pipeline by the end of next year.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK
Solar Media Events
December 1, 2021