Capital Dynamics bets on US solar

The Swiss asset manager has invested in a US solar plant in Salisbury, Massachusetts - one of the largest solar projects in the New England area. At full capacity, the solar farm will deliver 5.7MW of power to the grid.

Swiss-based asset manager Capital Dynamics has allocated capital to a 5.7-megawatt solar project in Salisbury, Massachusetts.  Capital Dynamics declined to disclose the value of the investment. The project, which is currently under construction, represents one of the largest solar energy developments in the New England area.

The solar farm is expected to begin delivering power to the grid by May 2012 and should start operating at full capacity by June of this year. A trio of investment-grade municipalities have entered into agreements to purchase power from the solar farm under 20-year Net Metering Credit Agreements. These contracts are designed to generate steady income streams to investors in clean energy infrastructure.

“We’re very pleased to partner with a local developer to provide affordable, long-term clean energy within the local community,” Karl Olsoni, managing director in Capital Dynamics’ clean energy and infrastructure team, commented.

Thomas Kubr, the firm’s chief executive, said in a press release:  “A project of this size illustrates the rising demand for clean energy and the consequential need for investor capital in clean infrastructure. We are delighted to help meet that need.”

Capital Dynamics is active in renewable energy and only last month the firm announced an investment worth an undisclosed amount in 35 landfill gas sites across England, Scotland and Wales. That allocation was made on behalf of a UK pension scheme. Last year, the firm made its maiden allocation to US clean energy.