Asset management firm Capital Dynamics has secured €110 million (US$129.4 million) in financing for three solar PV projects in Spain.
All three facilities are currently under construction and located in the northeastern region of Aragón. Projects are expected to reach commercial operations in the second half of 2025.
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Combined, the three projects will install more than 250,000 ground-mounted solar panels, each with an installed capacity of 54.89MW, 54.78MW, and 50MW.
The asset management firm acquired the portfolio of projects a year ago, along with another portfolio of 157MW solar PV construction-ready assets in Andalusia, southern Spain.
The financing was secured with the German banking institution Norddeutsche Landesbank Girozentrale (NORD/LB).
Dario Bertagna, senior managing director and co-head of clean energy at Capital Dynamics, said: “Spain remains a key market for Capital Dynamics, and this financing is an important step in expanding our renewable energy footprint in the region.”
Aside from the 160MW portfolio of projects currently under construction, Capital Dynamics has several solar PV plants operational in Spain. Two of the operational solar projects are also located in the region of Aragón, with each 49.5MW of installed PV. It has three more operational solar PV plants, two of which are in Andalusia (133.6MW and 50MW) and another one in the western region of Extremadura, which has an operational capacity of 73.5MW.
Outside of Spain, the company also has operational assets in Lazio and Sicily, Italy, and the UK.
