Capital Dynamics’ Clean Energy Infrastructure (CEI) business has completed the acquisition of three solar photovoltaic (PV) fully contracted operating projects from LS Power.
As part of the deal, CEI acquired the complete stake in Centinela Solar Energy, a 252MWdc solar facility in Imperial County, California; and the 11MWdc Dover Sun Park in Dover, Delaware.
The company also acquired a 30% stake in Arlington Valley Solar Energy II, a 175MWdc solar farm in Maricopa County, Arizona.
The three solar projects have long-term power purchase agreements in place and commenced commercial operations between 2011 and 2014.
Capital Dynamics New York Clean Energy Infrastructure managing director Tim Short said: “This acquisition provides our investors with immediate capital deployment into a diversified, operating and highly contracted portfolio delivering long-term, stable cash yield.
“With the addition of these high-quality assets, our team further cements our position as the largest private owner of solar assets in the United States, with a fleet exceeding 3.5GWdc.
“This transaction demonstrates our ability to leverage that scale and add value, serving as another example of our ability to deliver execution certainty to our partners against the backdrop of an unprecedentedly challenging year.”
CEI also announced that it has completed the placement of more than $400m in long-term, fixed-rate notes with institutional investors.
In January, Capital Dynamics and 8minute Solar Energy acquired the 300MWac/387MWdc Eagle Shadow Mountain solar project in the US. The project is located near Clark County in Nevada and scheduled to be completed by the end of next year.