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 fundamental support for the company’s goal of consolidating its initial investment in renewable electricity production projects and, in addition, diversifying its portfolio by also investing in energy storage and hydrogen, as well as other vectors that contribute to a just ecological transition.
In the short term, the aim is to start building 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 euros in the Iberian Peninsula and the first milestone will be the 126.5 MW solar photovoltaic plant in Portugal, a project belonging to the 2019 tenders, which will begin construction in early 2023; work on the rest of the portfolio will be carried out between 2023 and 2024. In all its 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 its offer of highly flexible financing solutions that are adapted to the needs of the market at all times and the differentiating capacity of its investment team, which stands out for its proven and extensive experience in the energy sector.
Luis Palacios, CEO of Dos Grados: “The partnership with ICG allows us to accelerate our growth plan and cover other electrified segments, helping to reduce our energy dependence and achieve European and national objectives. Our new partner is committed to financing renewable energies with a long-term approach.”
