DIF Infrastructure III acquires stake in solar plant in California
EDP Renováveis S.A. (EDPR) has reached an agreement with DIF Infrastructure III (DIF III), to sell a 49% equity shareholding in an operating solar PV power plant with 30 MW in California, USA.
The Lone Valley solar PV power plant, located in the state of California, achieved COD in the 4 Q14 and sells its output through two 20- year power purchase agreement (PPA). Completion of the transaction is subject to customary closing conditions.
Based on the transaction price and the institutional equity financing established in September 2014, the enterprise value for 100% of the assets amounts to US$3.1 million/MW, which represent a total value of US$93 million.
With this transaction EDPR extends its asset rotation strategy to the solar business and establishes its fourth asset rotation transaction since May 2014.
To deliver its 2017 growth objectives, EDPR is executing an asset rotation strategy in the total amount of €700 million (US$750.9 million), which allows EDPR to increase the value creation by crystallizing the value of the projects’ future cash-flows and re-invest in the development of quality and valuable projects.
During this month we have reported about several solar energy transactions globally:- sPower acquires three separate solar portfolios from FLS Energy - USA
- Primrose Solar acquires 9.5MW solar plant at Wilton Farm from Gamma Solutions - United Kingdom
- BayWa r.e. sells British three solar farms to Munich Re - United Kingdom
- HelioSage Energy sells its majority assets to Coronal Group - USA
Country news
-
-
March 23, 2015
JinkoSolar signs project development agreement with China Development Bank
JinkoSolar Power has signed a strategic project development agreement with China Development Bank Leasing Limited (CDBL). Read more -
March 23, 2015
Akuo Energy signs 50 MW PPA with Walmart
Akuo Energy USA, Inc. has signed a 12-year power purchase agreement (PPA) with Wal-Mart, for 50 MW of capacity from the 180 MW Rocksprings wind farm near Del Rio, Texas. Read more -
March 24, 2015
Sempra Energy submits Port Arthur Liquefaction-Export Facilities for FERC’s review
Sempra Energy, through its subsidiary Port Arthur LNG, has requested that the Federal Energy Regulatory Commission (FERC) initiate the pre-filing review for the company's proposed Port Arthur LNG natural gas liquefaction and export facility in Texas. Read more -
March 25, 2015
Minnesota seeks qualifications for solar projects
The Metropolitan Council of Minnesota, USA, is soliciting proposals for the following services: to design, finance, construct, install, maintain, own and operate solar photovoltaic (PV) facilities. Read more -
March 26, 2015
Greenleaf Power to buy Plainfield biomass power plant from Leidos
Greenleaf Power, an owner and operator of renewable energy power plants, has entered into an agreement to acquire Plainfield Renewable Energy from Leidos, Inc. Read more
