The Castlegore wind farm is estimated to reduce greenhouse emissions by over 1.3 million metric tonnes during its lifetime
Global private asset management firm Capital Dynamics has announced the acquisition of a 100% equity stake in a subsidy-free onshore wind project from ABO Wind.
The acquisition of the 23.1MW Castlegore wind farm has been made by its European Clean Energy Infrastructure (CEI) business.
Construction on the wind farm is expected to begin later this year.
Once operational, the wind power facility will be supported by a long-term power purchase agreement.
Acquisition expands onshore portfolio of Capital Dynamics in UK
Capital Dynamics Clean Energy Infrastructure team director Barney Coles said: “This transaction highlights our ability to source and close on high-quality, pre-construction wind assets and supports our commitment to Northern Ireland’s decarbonization program.
“We are pleased to have collaborated with ABO Wind and bring this unsubsidized project online by early 2022. This acquisition further strengthens our position as one of the largest investors in renewable energy projects in Europe.”
The acquisition expands Capital Dynamics’ existing portfolio of onshore wind farms in the UK.
Besides, it will enhances the company’s position as one of the largest independent buyers of subsidy-free renewable energy project in Europe.
Following the start of full operations, the Castlegore wind farm is estimated to reduce greenhouse emissions by over 1.3 million metric tonnes during its lifetime.
Earlier this month, Capital Dynamics completed the acquisition of the 133 MW Puerto Real 1 solar project from WElink Group, for an undisclosed amount.
The Puerto Real 1 solar project is CEI’s second acquisition in Iberia and is expected to be one of the largest utility-scale solar facilities in the country, when it achieves commercial operations in the early part of next year.
The solar project is expected to reduce greenhouse emissions by more than 175,000 metric tonnes, while supplying enough clean energy to almost 30,000 homes annually.