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.