Atlantica buys out tax equity in Solana CSP project

Atlantica Sustainable Infrastructure plc (Atlantica Yield plc) has exercised the option to buy out the tax equity shares in the 250 MW Solana concentrated solar plant (CSP) project in Arizona of Liberty Interactive Corporation. 

The deal involves the selling of Class A shares of ASO Holdings Company LLC, a holding company of Solana. The investment is estimated to be approximately US$290 million. The closing of the acquisition is expected to occur in August, subject to customary conditions.

The project has been in operation since 2013 and has 24 remaining years under contract with Arizona Public Service Company for a fixed-price power purchase agreement (PPA).