Sustainable Development Capital (SDCL) has acquired a 68-megawatt behind-the-meter solar portfolio in Iberia on behalf of its Global Energy Transition Fund (GETF).
The commercial & industrial solar portfolio, which has been developed by Portuguese energy platform Capwatt, includes a portfolio of both operational, under-construction assets and development assets. Capwatt, which is part of Prismore Capital Group, will retain a strategic role as developer, operator and asset manager.
The acquisition represents GETF’s first investment in the Iberian solar market, with the goal of scaling its commercial and industrial solar platform to deploy more than €100 million ($116 million) throughout the next year.
GETF raised €650 million ($681 million) at its final close in October 2023 and has committed more than 75 percent into energy infrastructure projects and companies to date. GETF also benefits from support from the European Union under the InvestEU Fund.
