Capital Dynamics, an independent global asset manager, today announced that its Clean Energy Infrastructure (“CEI”) team has signed an agreement to acquire 32 percent and 25 percent equity participation in two Imperial Valley, California-based solar power plants, CSolar South and West respectively. With a combined capacity of 354MWdc, the project is the ninth largest solar project in the US.
The CSolar interests were acquired from Tenaska, a leading independent power producer in the United States, having achieved commercial operation and secured a long-term power purchase agreement (PPA) with a California-based utility business. Capital Dynamics partnered with Hanwha Asset Management for this acquisition.
“This agreement continues our investment momentum and reinforces our strategy of identifying high quality investment opportunities,” said John Breckenridge, Head of the Capital Dynamics Clean Energy Infrastructure business. “Tenaska is a key business relationship and we are delighted with the completion of this transaction. As one of the largest owners of renewable power projects in the US, we remain committed to our institutional partners and dedicated to execution excellence.”
The Capital Dynamics Clean Energy Infrastructure team has invested in more than 1.5GW of solar projects in the last year and is the second-largest solar portfolio manager in the US1. Globally, the team manages close to USD 3.5 billion in AUM and 3.0 GW2 capacity in its current portfolio.
Capital Dynamics comprises Capital Dynamics Holding AG and its affiliates. Capital Dynamics, Inc. is a registered investment advisor with the US Securities and Exchange Commission (“SEC”). Capital Dynamics Broker Dealer LLC. is a registered broker dealer registered with the SEC and is a member of the Financial Industry Regulatory Authority. Capital Dynamics Limited is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom. For residents of the UK, this information is only directed at persons who have professional experience in matters relating to investments or who are high net worth persons, as those terms are defined in the Financial Services and Markets Act 2000. This press release is not an offer of securities for sale. Securities may not be offered or sold in the United States absent registration or an exemption from registration. The information herein should not be considered investment advice and is not intended to substitute for the exercise of professional judgment.