Capital Dynamics offloads Kern Region solar projects, completes Arizona solar purchase

• Capital Dynamics has sold a 99% risk in its Beacon solar portfolio in Kern County, California, to lasting investment company TortoiseEcofin and Israeli building and construction group Shikun & Binui for an undisclosed amount.

Under the offer, disclosed in late December 2020, TortoiseEcofin as well as S&B USA have each purchased 49.5% share of the Beacon portfolio, which makes up 2 utility-scale projects situated in Kern County amounting to 107.8 MW capacity. Capital Dynamics got the projects during their advancement in 2016. Both give power for the Los Angeles Department of Water and also Power with two 25-year power acquisition contracts (PPAs).

Kathryn Carpenter, principal of Clean Energy Infrastructure at Capital Dynamics, claimed the Beacon solar project is now "well located" to provide a secure profits stream to its brand-new proprietors, one of which is a recent entrant to the United States energy market.

The Beacon project is S&B's first United States initial solar property, according to Sharon Novak, CEO of Shikun & Binui America, and includes in a United States energy portfolio of approximately 2GW. Novak stated the company is "delighted to have its very first solar possessions" in Kern County.

At the same time, Capital Dynamics has actually taken full possession of the 175MW Arlington Valley Solar Energy II (AVSE II) in Arizona. The Swiss possession supervisor originally acquired a 30% risk in the project in November as part of the purchase of 3 PV projects from LS Power, which additionally consists of 252MW in Imperial County, California, as well as 11MW in Dover, Delaware.

Capital Dynamics' Clean Energy Infrastructure organization (CEI) has currently gotten the remaining share of the Arizona project from investment team Apollo Global Management, bringing its solar capability in the United States to 3.1 GW.

Tim Short, handling director of CEI stated the acquisition gives the team a "cleaner and streamlined possession setting" of the asset, continuing its current solar purchasing spree in the United States.

The business has swiftly improved its solar portfolio in the United States over the past year, beginning with the acquisition of a 400MW solar-plus-storage project in California from 8minute Solar Energy in January. In July, CEI then bought a 353MW portfolio of North American solar projects from independent power item Coronal Energy, which comprised 16 projects in Arizona, California, Florida, Virginia, Tennessee as well as Ontario, Canada.

CEI additionally landed a handle Nebraskan independent power manufacturer Tenaska in August to develop 2GW of battery storage space projects in California, a month after partnering with the very same business to develop 4.8 GW of solar in the Midwest and also Southeast United States.