Macquarie’s GIG to acquire PV, storage unit of Tradewind Energy
Savion boasts a project development pipeline of 6GW of solar and energy storage development projects. Image: Enel Green Power
Macquarie’s Green Investment Group (GIG) has signed off on a definitive agreement to acquire the PV and energy storage unit of Tradewind Energy, a subsidiary of Enel Green Power North America.
This unit, named Savion, is an integrated US solar and energy storage development platform that boasts a project development pipeline of 6GW of solar and energy storage development projects. Upon closing, Savion will be managed by former Tradewind principals Rob Freeman and Geoff Coventry. The transaction is expected to close by mid-2019, pending regulatory approval.
Chris Archer, head of Green Energy Americas for Macquarie Capital, said: “The US solar market presents a very attractive investment opportunity and we see strong fundamentals driving future growth. The commitment we announce today is a continuation of GIG’s strategy in US utility-scale solar. Tradewind’s seasoned team of specialists have built a leading solar and storage development platform that we expect to thrive in partnership with GIG.”
Nick Butcher, global co-head of infrastructure and energy at Macquarie Capital, added: “GIG backs developers around the world to invest in, manage and provide services to green energy projects. We are confident that Savion will benefit greatly as part of our growing global platform. We are delighted with our partnership with Savion, which will deliver significant scale in US solar development and storage and continue to advance GIG’s position as a leading global developer and investor in green energy projects.”
DSM Retrofit AR coating; Unlock higher solar farm returns. With DSM, SternEnergy and Encavis
Rethink repowering or replacing while there is a much more elegant, low risk and retrofit solution available: retrofitting with AR coating. In this second TechTalk webinar, DSM and its ecosystem partners, SternEnergy and Encavis will discuss all the relevant aspects of in-field retrofit AR coating technology and step-by-step procedures from the perspective of investors, maintenance engineers, and asset owners.
Solar & Storage Finance USA Virtual Summit
Solar & Storage Finance USA Virtual Summit, the only event that connects developers to capital and capital to solar and storage projects, will be back in November 2020 for its 7th edition!
Utility Solar Summit UK
The Utility Solar Summit UK will focus entirely on the opportunities in the UK ground-mount space and feature the new technology and advanced innovations allowing asset owners to improve yield in a subsidy free market. Listen to senior market leaders share stories of their successes and manufacturers pushing the envelope for solar PV whilst taking advantage of our enhanced networking features to connect you with your peers onsite; realising the potential of UK utility scale deployment from 2020 and beyond.
Also read...
-
Masdar makes US solar debut through ‘landmark’ deal with EDF
-
Fossil fuel majors must ‘build, not buy’ their way into renewables, RWE CFO says
-
Indiana utility CenterPoint eyes 1GW of solar and hybrids to replace retiring coal fleet
-
SPI goes fully virtual as Las Vegas trade show is cancelled
-
US clean energy job recovery stalled to a trickle in July
Comments