The first milestone will be the 126.5 MW solar photovoltaic plant in Portugal.
The recent acquisition of Dos Grados by the British investment fund Intermediate Capital Group (ICG) represents a fundamental support for the objective of consolidating its initial investment in renewable electricity generation projects and, in addition, diversifying its portfolio, also betting on energy storage and hydrogen, and other vectors that contribute to a just ecological transition.
In the short term, the objective is to start construction of most of the projects under development in Spain and Portugal (four solar photovoltaic assets and two hybrid -solar and wind-), representing a total capacity of 900 MW.
Dos Grados plans to invest €200 million in the Iberian Peninsula and the first milestone will be the 126.5 MW solar PV plant in Portugal, a project belonging to the 2019 tenders, which will start construction in early 2023; work on the rest of the portfolio will be carried out between 2023 and 2024. In all projects, Dos Grados maintains its social and environmental commitment, generating a positive impact on the territories in which they are located.
ICG’s main competitive advantage for Dos Grados is the provision of highly flexible financing solutions adapted at all times to the needs of the market and the differential capacity of its investment team, which stands out for its proven and extensive experience in the energy sector.
Luis Palacios, CEO of Dos Grados: “Partnering with ICG allows us to accelerate our growth plan and embrace other electrified segments, contributing to reduce our energy dependence and to reach European and national targets. Our new partner is committed to financing renewable energies with a long-term approach.”
