Swiss-headquartered Capital Dynamics has purchased six photovoltaic (PV) assets in Spain. All of the assets have entered into power purchase agreements with an unnamed S&P 500 company.

Capital Dynamics, with approximately $14 billion in assets under management, acquired the assets through two deals in Aragon in northeastern Spain and Andalusia in the south.

The deal in Andalusia involves PV assets currently under construction, expected to be completed by the end of the year, with a capacity of 157 megawatts.

In Aragon, the portfolio consists of 160 megawatts of construction-ready assets, which are projected to reach commercial operations in 2025.

Dario Bertagna, co-head of the clean energy team, stated that Spain is a “prime market for our investment strategy, and we expect to deploy substantial capital in the region.”

He added that Spain’s “robust PPA market enables us to mitigate risk and enhance asset returns. With increasing government support and the anticipated stabilization of rates across Europe, the upcoming year is crucial for creating value for our investors and contributing to a more sustainable future.”

Founded in 1988, Capital Dynamics operates in several countries, including Japan, Korea, and the UK. The company claims to have approximately 2 gigawatts of subsidy-free assets.