Capital Dynamics, an independent global private asset management firm, announced that its Clean Energy Infrastructure (CEI) business has entered into an agreement to acquire interests in three solar projects from LS Power. The transaction is subject to customary regulatory approvals and is expected to close in the fourth quarter of 2020.
The portfolio comprises 316 MW of operating solar resources located in California, Arizona and Delaware. Each project utilizes commercially proven and efficient technology, and is fully contracted under long-term power purchase agreements. The projects achieved commercial operations between 2011 and 2014.
The portfolio includes:
- 100% interest in Centinela Solar Energy, 252 MW located in Imperial County, CA
- 30% interest in Arlington Valley Solar Energy II, 53 MW located in Maricopa County, AZ
- 100% Interest in Dover Sun Park, 11 MW located in Dover, DE
“The acquisition of this portfolio is consistent with our strategy of acquiring or developing clean energy infrastructure assets in attractive locations. These high-quality, contracted projects will be an important addition to our 4.6-GW solar portfolio and our 2.9-GWh energy storage portfolio, compounding our ability to achieve benefits of scale, leverage our deep operational experience, and unlock opportunities to add value to this critical energy infrastructure,” said Tim Short, managing director of Clean Energy Infrastructure at Capital Dynamics in New York.
King & Spalding, LLP, led by partner Jonathan Melmed, co-chair of the firm’s Global Private Equity/M&A practice; and Amis, Patel & Brewer, LLP served as legal counsel for Capital Dynamics.
News item from Capital Dynamics