Carlyle Group use Maine solar with 100MW+ acquisition

• Investment firm The Carlyle Group has actually acquired a 100MW-strong profile of solar possessions under advancement in the state of Maine, the largest portfolio incomplete in the state.

The Carlyle Group has actually made the acquisition through Acadia Renewable Energy, a newly-established associate of the investor's, as well as described the purchase as an "investment in Maine as well as its communities".

Comprising 8 projects with a combined capacity in excess of 100MW, the assets are backed via 20-year power purchase contracts with local utilities Central Maine Power and also Versant Power.

Construction on the portfolio started in June this year and all eight are expected to be operational by Q3 2021.

The projects have been brought forward by Irish developer BNRG and also the firm's regional growth partner Dirigo Solar. The duo will currently partner with Carlyle for the development and also construction monitoring of the properties.

""We are thrilled to be at the forefront of solar growth in the Northeast. We see substantial value in eco-friendly development in the region and the support for these projects has actually been remarkable," Pooja Goyal, handling supervisor and also co-head of Carlyle's framework group, claimed.

Carlyle stated the bargain represents greater than US$ 130 numerous capital expense into solar in Maine, and also the company has actually executed construction as well as debt funding for the portfolio, touching up HSBC Bank USA for lead plan and administration. Equity capital for the purchase was committed by Carlyle's own Renewable & Sustainable Energy Fund.