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Capital Dynamics soaks up sun with $300m US deal

The global private asset manager has bought three solar portfolios comprising projects in California and New Jersey with an aggregate generating capacity of more than 100MW.

Zug, Switzerland-based global private asset manager Capital Dynamics has expanded its US solar portfolio with the acquisition of three new portfolios, the firm announced today.

Without disclosing the purchase price, Capital Dynamics has said it has bought three portfolios of solar energy projects in California and New Jersey representing investments of more than $300 million. 

The largest of the acquired portfolios includes some 80 megawatts (MW) of what Capital Dynamics called “utility-scale solar power generation projects”, all located in California and with long-term Power Purchase Agreements in place with California utilities. 

The second portfolio includes a pipeline of solar projects, also in California, that will generate about 25MW once built. The third, and smallest, of the acquisitions is “one of the largest solar rooftop projects in US history” and is expected to generate 8MW once it’s finished.

David Scaysbrook, managing director and global head of clean energy and infrastructure at Capital Dynamics, said he was happy with the firm’s rapidly growing portfolio of US energy investments:

“We are making significant progress in building a large and well-diversified portfolio of projects from California to New Jersey and Massachusetts. Our portfolio of operating, under construction or advanced development projects now exceeds 60. By securing long-term sales contracts, we have been able to de-risk the cash flows,” he added.

Capital Dynamics started its clean energy and infrastructure business in 2010 to capitalise on the “attractive investment opportunities emerging in this new class of real assets,” it said in its statement.