This marks the latest addition to the firm’s broader global clean energy strategy, which also includes investments in wind, biomass, combined-cycle gas and waste gas-fuelled power generation technologies.
The fully operational plant, located near Gloucester, is one of the last projects to have benefitted from the 20-year Renewable Obligation incentive scheme in the United Kingdom.
The transaction was led by Dario Bertagna in Capital Dynamics’ European CEI investment business, which is headed up by managing director Simon Eaves. The plant is to be operated by Arevon Energy, one of the Capital Dynamics affiliates specialising in renewables asset management, which together have over 80 employees globally.
While this marks Capital Dynamics’ first move into solar energy in Europe, the business already has significant global experience in the sector, having invested in more than 1.5GW of solar projects in the United States in the last year.
Eaves said: “We are delighted to have added Rymes to our portfolio of investments in clean energy. Solar will play an increasingly important role in energy markets around the world as costs of flexible generation technology continue to fall. We continue to expand and diversify our portfolio in line with core market drivers."
The Capital Dynamics Clean Energy Infrastructure team is one of the largest specialised renewable investment managers in the world, with $3.4bn in AUM and 3.1 GW capacity in its current portfolio.
