Capital Dynamics finishes AVSE II solar project procurement

• Capital Dynamics' Clean Energy Infrastructure (CEI) company has actually completed the acquisition of the staying 69.98% passion in the Arlington Valley Solar Energy II (AVSE II), a 175MWdc solar photovoltaic (PV) project from Apollo Funds.

Capital Dynamics' Clean Energy Infrastructure (CEI) business has actually finished the acquisition of the staying 69.98% rate of interest in the Arlington Valley Solar Energy II (AVSE II), a 175MWdc solar photovoltaic (PV) project from Apollo Funds.

Apollo Funds is managed by affiliates of Apollo Global Management (Apollo).

Financial details of the bargain have actually not been divulged by both the firms.

Capital Dynamics New York Clean Energy Infrastructure taking care of supervisor Tim Short stated: "This deal was an all-natural suitable for us as it improves our recent purchase of a 30% interest in AVSE II.

" This allows for a cleaner and simplified possession placement which we were well prepared to act upon quickly together with the team at Apollo, for a mutually helpful deal. We welcome the complete ownership of AVSE II right into our 3.1 GWdc portfolio of running US solar projects."

Last month, CEI got a 30.02% rate of interest in AVSE II as part of the purchase of 3 solar PV projects from LS Power.

As part of the bargain, CEI acquired the complete risk in Centinela Solar Energy, a 252MWdc solar facility in Imperial County, California; and also the 11MWdc Dover Sun Park in Dover, Delaware.

With this procurement, CEI becomes the sole proprietor of the AVSE II solar PV project.

Apollo elderly companion as well as co-head of infrastructure and also natural resources Geoffrey Strong said: "Having made significant functional as well as economic efficiency renovations, Arlington Valley Solar is well-positioned for development as well as success in its next stage backed by Capital Dynamics.

" At Apollo, we remain to discover attractive possibilities in renewable resource properties, demonstrated by current deals throughout our facilities company, as a result of the growing, lasting demand for tidy energy."

For this deal, King & Spalding and also Amis, Patel & Brewer were the legal guidance for Capital Dynamics, while Citigroup Global Markets were the economic experts to Apollo. Lawful advise for Apollo were Kirkland & Ellis as well as Allen & Overy.