Fengate Acquires 50% Stake in 227 MWac Operational Solar Portfolio in Western US in JV with Clearway Energy
Fengate Asset Management has acquired a 50% interest in a 227 MWac portfolio of 12 operating solar projects in the western United States, forming a 50/50 joint venture with Clearway Energy Inc. The investment is made through Fengate Infrastructure Yield Fund, including a participation by the LiUNA Pension Fund of Central and Eastern Canada, and represents Fengate's second renewables partnership with Clearway.
Transaction date: · Source: fengate.com
Key facts
- Transaction date
- Technology
- Solar PV
- Capacity
- 227 MW
- Transaction price
- Not disclosed
- Seller
- Clearway Energy
- Country
- United States
- Region
- Western United States
- Continent
- North America
- Development status
- Operational
- PPA
- Yes
Technology details
Portfolio of 12 operating solar PV projects with a combined capacity of 227 MWac located across the western United States. Long-term contracted assets.
Power purchase agreement (PPA)
Portfolio assets are long-term contracted. Further PPA details not disclosed.
Additional information
Transaction structured as a 50/50 joint venture between Fengate and Clearway Energy, who retains the remaining 50% stake. Investment made on behalf of Fengate Infrastructure Yield Fund and affiliated entities, including the LiUNA Pension Fund of Central and Eastern Canada. This is the second renewables investment partnership between Fengate and Clearway, following a prior collaboration on an operational wind facility. Specific project locations not disclosed.
Source
Original announcement: https://fengate.com/article/fengate-acquires-interest-operational-us-solar-portfolio