EDF Renewable Energy has sold a 12.8MWp solar energy portfolio in Long Island, New York, to asset management firm Capital Dynamics.
The portfolio covers seven PV projects developed by EDF that are either already in operation or in advanced construction.
According to the companies, the seven projects make up one of the largest PV portfolios in New York State.
The projects are all built on land owned by Suffolk County, Long Island, and benefit from 20-year power purchase agreements with municipal utility the Long Island Power Authority.
Capital Dynamics is an active institutional investor in commercial and utility-scale solar, with a portfolio of over 60MW of operational and under-construction assets in California, Massachusetts, New Jersey, New York and Pennsylvania.
Karl Olsoni, Managing Director at Capital Dynamics, said: “[This latest investment] is a well engineered and constructed portfolio of first-rate assets supported by a 20-year sales contract with a leading New York energy utility. These assets will deliver clean and renewable energy to Long Island residents for many years to come.”