DIF Infrastructure III purchases 49% stake in 30 MW Lone Valley solar project
DIF Infrastructure III has closed the acquisition of a 49% equity interest in the 30 MW Lone Valley solar plant located in California from EDP Renováveis S.A. (EDPR).
The Lone Valley solar PV power plant achieved COD in the 4 Q14 and sells its output through two 20- year power purchase agreement (PPA).
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.
Paul Huebener, DIF’s Head of Americas:
“We are pleased to partner with EDPR, a highly respected developer, owner and operator of renewable assets. Lone Valley is an excellent asset for our entry into the United States that will provide long term, stable cash flows as part of DIF’s expanding North American and European portfolio.”
The project is financed with full equity.
Country news
-
-
June 02, 2015
Calpine Corporation closes on a $1.6 billion first lien term loan
Calpine Corporation, America’s largest generator of electricity from natural gas and geothermal resources, has recently announced that it has closed on a $1.6 billion first lien term loan. Read more -
June 03, 2015
Competitive Power Ventures acquires Global Infrastructure Partners
Global Infrastructure Partners (GIP) has completed the acquisition of Competitive Power Ventures (CPV)’s principal assets including the operating company. Read more -
June 04, 2015
EDF 200 MW Longhorn wind project becomes operational
EDF Renewable Energy has announced that the 200 MW Longhorn wind project located in Texas (USA) has reached commercial operation. Read more -
June 04, 2015
Fengate Capital Management launches new US$180 M fund backed by Korean investors
Fengate Capital Management has launched a new US$180 million infrastructure fund with Korean institutional investors, which will be focused in Canada and the United States. Read more -
June 04, 2015
SunEdison to develop 7 photovoltaic solar power projects in Long Island
SunEdison has signed agreements with five municipal entities on Long Island (USA) to build seven solar power plants totaling 14 MW. Read more
