Capital Dynamics, a global private asset management firm, announced today that its Clean Energy Infrastructure (CEI) business has entered into an agreement to acquire interests in three solar projects from LS Power, including a site in Dover.
The transaction is subject to customary regulatory approvals and is expected to close in the fourth quarter of 2020.
The portfolio is comprised of 316 megawatts of operating solar resources located in California, Arizona, and Delaware.
Each project utilizes commercially proven and efficient technology and is fully contracted under long-term power purchase agreements. The projects went into operation between2011 and 2014.
The portfolio includes the Dover Sun Park, an 11-megawatt project in Dover that has been in operation since 2011. Sun Park was one of the earliest large solar projects in Delaware, which is under a mandate to get a quarter of its power from alternate sources by 2025.
The Sun Park uses atracker system that follow the sun’s movement during the day, increasing solar energy capture by up to 25 percent over conventional fixed systems while reducing land use requirements.
“The acquisition of this portfolio is consistent with our strategy of acquiring or developing clean energy infrastructure assets in attractive locations. These high-quality, contracted projects will be an important addition to our 4.6 GW solar portfolio and our 2.9 GWh energy storage portfolio, compounding our ability to achieve benefits of scale, leverage our deep operational experience, and unlock opportunities to add value to this critical energy infrastructure,” said Tim Short, managing director, Clean Energy Infrastructure at Capital Dynamics.
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October 03, 2020 at 05:28AM
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Dover Sun Park sold to asset management firm - delawarebusinessnow.com
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