Sustainable Development Capital LLP (SDCL) has announced the acquisition of a 68-megawatt (MW) solar portfolio located in Iberia, marking a significant step in its investment strategy within the renewable energy sector. This acquisition, made on behalf of its Global Energy Transition Fund (GETF), represents the fund’s inaugural foray into the Iberian solar market, which is increasingly recognized for its potential in the energy transition landscape.
The portfolio, developed by Capwatt—a prominent energy platform in Portugal—includes a mix of operational assets, projects currently under construction, and those still in the development phase. This strategic acquisition is part of GETF’s broader objective to scale its commercial and industrial solar operations, with plans to invest over €100 million in the coming year.
The investment not only provides GETF with immediate access to high-yielding assets but also positions it strategically within a key European market that is undergoing a significant energy transition. The projects encompassed in this portfolio span various sectors, including manufacturing, food and beverage, packaging, and construction materials, all supported by long-term power purchase agreements.
Jonathan Maxwell, CEO of SDCL, expressed enthusiasm about the partnership with Capwatt, emphasizing the substantial opportunities for energy efficiency solutions in southern Europe. He noted that the scale of the portfolio underscores the potential for growth in the region’s commercial and industrial energy sectors.
Miguel Gil Mata, CEO of Prismore Capital, which owns Capwatt, highlighted the acquisition as a strategic milestone for Capwatt, reinforcing its position as a leading developer of sustainable energy solutions in the Iberian Peninsula. He remarked that SDCL’s investment reflects confidence in the quality and long-term viability of Capwatt’s projects and its capability to manage high-performance assets that contribute to the energy transition.
GETF has raised €650 million (approximately $681 million) as of October 2023, with over 75% of that capital already committed to energy infrastructure projects across Europe and the United States. The fund also benefits from support from the European Union through the InvestEU Fund, further enhancing its capacity to invest in sustainable energy initiatives.
As the demand for renewable energy solutions continues to rise, this acquisition positions SDCL and its partners to play a pivotal role in the ongoing energy transition in Europe, particularly in the Iberian region, which is becoming a focal point for sustainable energy investments.
This article was submitted via the World of Renewables press desk.
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