Capital Dynamics – investment company – invests again in Italy by purchasing a photovoltaic system from the developer Solar Ventures. It's about Project Cliff, an 18MW ready-to-build photovoltaic plant located in Ragusa in Sicily, under grid-parity regime, i.e. in the absence of public incentives. Construction will begin this year and is expected to be operational in the first half of 2023. It is estimated to be capable of generating approximately 37 GWh of renewable energy per year (equivalent to the annual energy needs of more than 5.000 households). The project will be supported by a long-term power purchase agreement.
“We believe it is essential to make the sources of more accessible renewable energy to the benefit of both our investors and local communities, and this investment contributes directly to the acceleration towards the energy transition in Italy and in Europe,” said Dario Bertagna, co-head of Capital Dynamics Clean Energy.
“The future of the energy sector is represented by renewable sources and we are delighted that this vision is shared by Capital Dynamics – he added Michael Appendino, chairman & CEO of Solar Ventures -. Through this new collaboration, we want to boost the spread of plants capable of producing clean energy and meet the growing demand for sustainability from investors and citizens."
During the acquisition Capital Dynamics was advised by Norton Rose Fulbright as legal adviser, by Everoze Partners Limited as technical adviser, by PwC TLS as tax and accounting adviser and by JLL as financial adviser.
