Spanish alternative asset manager Dunas Capital said on Wednesday that it has grid-connected a 19.77-MWp solar farm in Toledo province, central Spain, through one of its managed funds.
The solar farm, known as Calera, is the first asset owned by the Dunas Clean Energy I FCR fund to commence operations.
The plant, constructed and commissioned by Spanish engineering firm GES, comprises 34,720 solar panels installed at a site in the Toledo municipality of Noves. It is expected to produce approximately 42,000 MWh per year, equivalent to the annual consumption of around 13,000 homes in Spain.
The project was financed through a unitranche structure with Kobus Asset Finance I guaranteed by the European Investment Fund (EIF), Dunas Capital said.
The firm is also considering the possibility of incorporating batteries into the Calera facility, although it highlights the need for more developed regulation for their installation to be viable.
Dunas Clean Energy I has a portfolio of nearly 300 MWp and plans to start construction on three additional projects in the last quarter of 2024. The fund aims to have its entire portfolio of projects in operation by 2026, Dunas Capital added.
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