Asset management firm Capital Dynamics has entered into an agreement to acquire interests in three US solar PV projects with a total capacity of 316MW from developer LS Power.
The transaction includes: a 100% stake in the 252MW Centinela Solar Energy project, California; a 30% interest in 53MW Arlington Valley Solar Energy II, Arizona; and a 100% stake in 11MW Dover Sun Park, Delaware. The projects achieved commercial operations between 2011 and 2014, and each is fully contracted under a long-term power purchase agreement.
Unlock unlimited access for 12 whole months of distinctive global analysis
Photovoltaics International is now included.
- Regular insight and analysis of the industry’s biggest developments
- In-depth interviews with the industry’s leading figures
- Unlimited digital access to the PV Tech Power journal catalogue
- Unlimited digital access to the Photovoltaics International journal catalogue
- Access to more than 1,000 technical papers
- Discounts on Solar Media’s portfolio of events, in-person and virtual
It is expected the deal, which is being carried out through Capital Dynamics’ clean energy infrastructure (CEI) business, will close in the fourth quarter of 2020.
“These high-quality contracted projects will be an important addition to our 4.6GW solar portfolio and our 2.9GWh 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,” Tim Short, managing director clean energy infrastructure at Capital Dynamics, said.
The acquisition continues Capital Dynamics’ recent solar build-out, with its CEI business now managing 7.9GW of gross power generation across more than 100 projects in the US and Europe.
In August, the company secured a deal with Nebraskan independent power producer Tenaska to develop 2GW of battery energy storage system projects in California, a month after partnering with the same firm to bring forward 4.8GW of solar in the Midwest and Southeast US.
