Greystone fund buys stake in solar energy developer

Greystone Infrastructure Fund has acquired an equity interest in Silicon Ranch Corp., a privately held US solar project developer, owner and operator based in Nashville, Tennessee, USA.

Terms of the transaction has not been disclosed.

Silicon Ranch currently operates 52 MW of solar power assets in the U.S. In addition, Silicon Ranch has near-term and long-term development projects representing more than 200 MW of generation capacity.

The two largest solar facilities within the operating asset portfolio include the:

• 38.6 MW Social Circle Solar Farm located in Social Circle, which is one of the largest solar facilities in this state of Georgia. All solar power generated is sold to the Georgia Power Company under a 20 year power purchase agreement (PPA).

• 9.5 MW Volkswagen Chattanooga solar facility, which uses a unique behind-the-meter distributed generation approach providing clean and sustainable energy for Volkswagen's automotive plant under a 20 year PPA.

Jeff Mouland, executive director of the Greystone Infrastructure Fund, stated:

Greystone's partnership with Silicon Ranch provides a unique opportunity for our investors to gain long-term strategic exposure within the North American renewable energy sector.

Matt Kisber, president and CEO of Silicon Ranch, commented:

Greystone's investment in Silicon Ranch provides a strong, global financial partner to support the rapid growth of our solar generation portfolio. Their experience in the infrastructure industry will be valuable as Silicon Ranch continues to expand into new markets.