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Dos Grados, a Spanish company focused on sustainable investment, has reached an agreement to take over three solar PV developments in Spain from Akuo, a French independent power producer. The three projects together represent more than 500MW of installed capacity, according to a LinkedIn statement from Dos Grados.
The developments are situated in Castilla y Leon and Andalusia. Financial details of the deal were not made public by either company, nor were specifics about each project, such as their stage of development, anticipated construction schedules or planned grid connection dates.
According to Dos Grados, the purchase will broaden its renewable energy holdings in Spain and align with its approach of pursuing long-term investments in sustainable infrastructure. With this deal, over 500MW of solar capacity in development is added to the company’s Spanish pipeline.
The move follows Dos Grados’ earlier growth in the Spanish solar sector. In the prior year, it bought two shovel-ready solar PV projects totaling 52MWp in Castilla y Leon.
Established in 2019, Dos Grados places capital in sustainable real assets, with holdings that include solar and wind energy. The company has previously reported a portfolio of roughly 600MW of renewable energy assets, among them the 126.5MWp Fundao solar farm in Portugal, which is operational.
Ardian, a private equity firm, acquired Akuo in 2025, gaining complete ownership of the company’s capital previously held by its founders. The deal was initially announced in March 2025. Akuo seeks to reach 5GW of installed renewable energy capacity by 2030.
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