Dos Grados Acquires 105 MWp Solar Projects in Spain

• Dos Grados Capital ventures into Spain's renewables, acquiring two solar projects with 105 MWp capacity, marking a bold step towards a sustainable energy future.

Dos Grados Capital, supported by ICG, has entered the Spanish renewables market by acquiring two ready-to-build photovoltaic solar projects in Valladolid province. The projects have a combined capacity of 105 MWp, marking a significant investment in sustainable energy in Spain.

This acquisition represents Dos Grados' inaugural move in Spain's renewable sector, underscoring the growing interest in clean energy investments in the region. The company aims to expand its portfolio of sustainable assets while contributing to Spain's renewable energy goals.

What impact will Dos Grados' solar project acquisition have on Spain's renewable energy landscape?

• Increased Capacity for Renewable Energy: The acquisition of the 105 MWp photovoltaic solar projects will add significant capacity to Spain's renewable energy grid, supporting the country's efforts to transition to a low-carbon economy.
• Support for Energy Transition Goals: Spain has ambitious targets under the European Union's Green Deal and its own national renewable energy plan. The addition of these projects helps the country progress towards achieving its goal of generating 74% of its electricity from renewable sources by 2030.
• Job Creation and Economic Boost: The construction and operation of solar facilities typically create jobs in the local economy. This project could result in direct and indirect employment opportunities, benefiting the Valladolid region and stimulating economic growth.
• Attraction of Foreign Investment: Dos Grados Capital's entry into the Spanish market highlights Spain's attractiveness for international renewable energy investors. This could encourage other foreign entities to invest, thereby accelerating the overall growth of the renewable energy sector in Spain.
• Strengthening of Local Supply Chains: The development of solar projects often involves local suppliers and contractors. This acquisition may lead to enhanced collaboration with local businesses, fostering resilient supply chains and bolstering local economies.
• Technological Innovation and Development: The introduction of a new player in the market can lead to increased competition, incentivizing technological advancements in solar energy production, efficiency, and storage solutions.
• Alignment with Sustainable Investment Trends: The move aligns with a broader global trend toward sustainable investing, as corporates and funds increasingly prioritize environmental, social, and governance (ESG) criteria in their investment decisions.
• Long-Term Commitment to Sustainability: The acquisition reflects a long-term commitment by Dos Grados to renewable energy, which may inspire greater confidence among stakeholders in the sustainability of the energy transition in Spain.
• Expected Reduction in Carbon Emissions: By generating renewable energy that replaces fossil fuel-generated electricity, the projects are expected to contribute to substantial reductions in carbon emissions, supporting Spain's climate change mitigation efforts.
• Enhancement of Energy Security: By increasing the share of renewables in the energy mix, the solar projects can help Spain reduce its dependency on imported fossil fuels, enhancing national energy security and stability.