Capital Dynamics sells U.S. Solar Energy fund assets to TerraForm Power

Capital Dynamics, a global private asset manager, has entered into an agreement to sell its U.S. Solar Energy Fund assets to TerraForm Power Inc. for approximately US$250 million.

Through the sale, which is expected to be completed by the fourth quarter of 2014, Capital Dynamics will deliver a unique monetization opportunity for its U.S. Solar Energy Fund investors.

Capital Dynamics’ U.S. Solar Energy Fund portfolio is comprised of 39 solar energy productions assets across 5 U.S. states generating more than 75 MW of power.

Capital Dynamics led all aspects of the fund’s investment process, from deal origination, negotiations and structuring to overseeing late-stage project design activities and ultimate construction and operation of the projects. The U.S. Solar Energy Fund reached a final close in June 2012 and was named the largest renewables infrastructure fund raised globally that year.

Stefan Ammann, CEO of Capital Dynamics, stated:

“I am pleased that the sale of our U.S. Solar Fund assets achieves our goal of realizing risk-adjusted returns for our investors and we look forward to working with TerraForm Power on other opportunities in the future. We were an early mover in the U.S. solar market and we will work to build on this advantage by continuing to identify and grow opportunities in clean energy infrastructure on behalf of our investors"

The U.S. Solar Energy Fund is one of several funds managed by the Capital Dynamics Clean Energy and Infrastructure (CEI) team. In addition to solar, Capital Dynamics has invested in a broad array of power infrastructure assets, including gas-fired generation, biomass and wind.