Global private asset management company Capital Dynamics has completed the sale of a majority interest in its almost 108MW Beacon solar portfolio in the US state of California to TortoiseEcofin and S&B USA Energy.
Each buyer has acquired a 49.5% ownership of the portfolio with Capital Dynamics retaining a minority stake of 1%.
The 107.8MW Beacon portfolio consists of two projects – the 59.6MW Beacon 2 and 48.2MW Beacon 5 developments – located in Kern County.
Both sites interconnect and sell power to the Los Angeles Department of Water and Power under two 25-year fixed rate Power Purchase Agreements.
No details of the price of the deal have been disclosed.
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NEW YORK, Dec. 28, 2020 /PRNewswire/ Capital Dynamics, an independent global private asset management firm, completed the sale of a majority interest in its Beacon portfolio to TortoiseEcofin and S&B USA Energy. Each buyer has acquired a 49.5% ownership of the portfolio. Capital Dynamics retains a minority stake of 1%.
The 107.8 megawatt (MWdc) Beacon portfolio consists of two projects: Beacon II (59.6 MWdc) and Beacon V (48.2 MWdc). Both sites interconnect and sell power to the Los Angeles Department of Water and Power ( LADWP ) under two 25-year fixed rate Power Purchase Agreements. The assets were wholly acquired from SunEdison during Q1 2016 and achieved commercial operations in Q4 2017.