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Dos Grados acquired by ICG Infra

Dos Grados a renewable energy platform located in Spain and Portugal is being acquired by ICG.

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Dos Grados a renewable energy platform located in Spain and Portugal is being acquired by ICG Infra.

A large portfolio

Dos Grados has a portfolio of 900MW of renewable projects under development in the Iberian Peninsula. The portfolio includes four solar photovoltaic assets. In addition, it integrates two hybrid assets, solar and wind.

The first project in Portugal, a 126MW solar photovoltaic power plant, will begin construction in early 2023. The remainder of the portfolio targets ready-to-build dates between 2023 and 2024. Dos Grandos was already deploying €1.8 billion of investment capital and building more than 1GW of power generation plants.

A buoyant market

ICG Infra will work with the Dos Grados management team to lead and operate the existing projects over the long term. The company will continue to support organic and inorganic expansion throughoutSpain and Portugal. In addition, the acquisition of Dos Grados is the first acquisition of ICG Infra in the Iberian Peninsula.

The Iberian market has attractive long-term fundamentals with one of the best renewable resources in Europe. ICG Infra successfully raised €1.5 billion in February 2022. In addition, the company was acquiring British Solar Renewable in July 2022 and Zeplug in September 2022.

 

 

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