- Solar park to yield 37GWh of power per year
- Cover the demand of more than 5,000 homes per year.
Capital Dynamics, a Switzerland-based asset management firm, has announced its acquisition of an 18MW subsidy-free solar project located in Sicily from Italy’s Solar Ventures Srl.
Construction work is projected to commence on the Cliff project this year, and by 2023, the park is expected to be ready for full commercial operation. Support from a long-term power purchase agreement (PPA) with an unidentified offtaker will go to the photovoltaic (PV) scheme.
At the full operational level, the park is expected to yield approximately 37GWh of power per year, which will be enough to cover the demand of more than 5,000 homes per year.
Capital Dynamics received legal advisory services from the law firm Norton Rose Fulbright, and JLL acted as the financial advisor. PwC TLS assisted on the tax and accounting due diligence, and Everoze Partners Ltd served as the technical advisor.
Currently, Capital Dynamics has renewable energy projects with 570MWp of installed capacity in southern Europe, including 87.2MWp in Italy.