Global asset manager Capital Dynamics is taking minority stakes in two solar farms in California totalling 354MW from Tenaska for an undisclosed amount.
A 32% interest will be taken in the CSolar South project and 25% in the CSolar West plant.
The operational projects are located in Imperial Valley and have long-term power purchase agreements with an unnamed California utility.
Capital Dynamics said it partnered with Hanwha Asset Management on acquisition.
Capital Dynamics clean energy infrastructure business head John Breckenridge said: “This agreement continues our investment momentum and reinforces our strategy of identifying high quality investment opportunities.
“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.”
Capital Dynamics added that it has invested in over 1.5GW of solar projects in the last year.
Image: Tenaska
CapDyn shows US PV interest
By EBS