Capital Dynamics’ new RE fund has raised €521 million; Encavis raises $32 million for Dutch solar parks; Enel Green Power starts construction of 86 MW Italian PV and storage power plant; Peel Cubico proposes 26 MW solar farm for Isle of Man.
Capital Dynamics closes new renewables fund: Global private asset management firm Capital Dynamics has closed its latest Clean Energy Infrastructure IX (CEI IX) fund having exceeded the target of €300 million by around 75%. It finally closed the fund with €521 million raised in capital commitments from a large, globally diversified investor base of new and existing investors, including pension funds, insurance companies, family offices and high-net-worth individuals, across Europe, Asia, Australia and the Middle East. CEI IX invests in subsidy free renewable projects across Europe, especially solar. It has already invested in a portfolio of 11 assets across 10 projects out of which 4 are operational.
€32 million raised for Dutch solar parks: German renewables operator Encavis AG has concluded non-recourse project financing of $32 million from Rabobank for 2 Dutch solar parks. The 34 MW Svinningegården Solar Park is located in north-western part of Zealand and 71 MW Rødby Fjord in south-western part of Zealand. Power generated from both the projects were acquired by Encavis from European Energy. Encavis said this financing now provides it with additional resources to further invest as part of its expansion goals.
EGP building solar & storage power plant in Italy: Enel Green Power (EGP) has started constructing 86 MW solar power plant in Italy’s Trino municipality. To be built using around 160,000 modules, the project will be one of the largest PV projects in Northern Italy on completion when it will generate close to 130 GWh annually. It will also be equipped with a 25 MW electrochemical energy storage system. The Trino project is coming up on 130 hectares space near former Galileo Ferraris combined cycle power plant.
26 MW solar farm proposed for Isle of Man: Peel Cubico Renewables (PCR) is seeking public consultation for its 26 MW Billown Solar Farm in Malew, near Castletown, situated between England and Ireland. The project will be located on 84 acres of agricultural land and built for around £30 million. If all goes well, the company plans to put the project in operation by 2024. PCR, a joint venture (JV) between Peel NRE and Cubico Sustainable Investments, believes the project will enable the island to control its long-term energy needs with the help of renewable energy and ensure its energy security (see UK Focused Renewable Energy Joint Venture Launched). Public consultation will be open till November 13, 2022. Details available on a dedicated project website.