Swiss asset management firm Capital Dynamics has agreed to acquire US-based yieldco 8point3 Energy Partners through its clean energy infrastructure (CEI) team.
Completion of the deal is subject to customary regulatory approvals and is expected to close later this year.
Established as a joint venture (JV) company of First Solar and SunPower, 8point3 operates solar energy generation projects in the US and has ownership interests in nine utility-scale solar projects.
With the acquisition, Capital Dynamics intends to expand its global footprint of solar, wind, biomass and waste gas-fueled power generation technology investments.
Capital Dynamics Clean Energy Infrastructure business head John Breckenridge said: “Capital Dynamics is very proud to propose the addition of the 8point3 assets to its broad portfolio of renewable assets.
“With our extensive asset management capabilities and financing expertise, we have been able to achieve terms that we expect to be received positively by shareholders, while meeting our long-term investment objectives.”
Last year, Capital Dynamics’ CEI team is reported to have invested in 1.1GW of solar projects.
Breckenridge further added: “This acquisition continues the team’s strong track record as a leading provider of long-term, reliable, yield-producing capital to the renewable energy market.”