Capital Dynamics, an independent global asset manager, announced that its Clean Energy Infrastructure (“CEI”) team has signed an agreement to acquire 32% and 25% equity participation in two Imperial Valley, California-based solar power plants, CSolar South and West respectively. With a combined capacity of 354 MWdc, the project is the ninth largest solar project in the US.
The CSolar interests were acquired from Tenaska, a leading independent power producer in the United States, having achieved commercial operation and secured a long-term power purchase agreement (PPA) with a California-based utility business. Capital Dynamics partnered with Hanwha Asset Management for this acquisition.
“This agreement continues our investment momentum and reinforces our strategy of identifying high quality investment opportunities,” said John Breckenridge, head of the Capital Dynamics Clean Energy Infrastructure business. “Tenaska is a key business relationship and we are delighted with the completion of this transaction. As one of the largest owners of renewable power projects in the US, we remain committed to our institutional partners and dedicated to execution excellence.”
News item from Capital Dynamics