Capital Dynamics sells 108-MW solar portfolio in California
- Global private asset supervisor Capital Dynamics has unloaded a 90% passion in a 107.8-MW DC solar portfolio in Kern County, California, it was revealed on Monday.
Capital Dynamics said it has sold 49.5% risks in the Beacon portfolio to every of TortoiseEcofin and S&B USA Energy. The last is part of Israeli building and also property team Shikun & Binui Ltd (S&B), which commenced its US energy activity in March 2020 as well as the Beacon portfolio represents its very first solar assets in the country.
The purchase concerns the 59.6-MW DC Beacon II as well as the 48.2-MW DC Beacon V solar energy plants that offer electrical power to the Los Angeles Department of Water and also Power (LADWP) under a number of 25-year, fixed-rate contracts.
Capital Dynamics acquired these solar projects from SunEdison in the initial quarter of 2016 as well as led them to commercial procedure in the last quarter of 2017. It will certainly currently keep a 10% stake in the portfolio.
Arevon Asset Management will certainly remain to oversee procedures of the solar plants on an everyday basis.