Capital Dynamics completes acquisition of 316 MW of solar PV projects from LS Power

Capital Dynamics's Clean Energy Infrastructure (CEI) business has completed the acquisition of three solar photovoltaic (PV) projects from LS Power. Simultaneously, CEI completed the placement of over US$400 million in long-term, fixed-rate notes with top-tier institutional investors.

The portfolio comprises 316 megawatts (MWdc) of operating solar resources located in California, Arizona, and Delaware. Each project utilizes commercially proven and efficient technology and is fully contracted under long-term power purchase agreements. The projects achieved commercial operations between 2011 and 2014.

The portfolio includes:

• 100% interest in Centinela Solar Energy, 252 MWdc located in Imperial County, California
• 30% interest in Arlington Valley Solar Energy II, 175 MWdc located in Maricopa County, Arizona
• 100% Interest in Dover Sun Park, 11 MWdc located in Dover, Delaware

Jefferies, LLC served as Exclusive Financial Advisor and Lead Placement Agent for the acquisition and financing with Commonwealth Bank of Australia as Co-Manager of the private placement notes. King & Spalding, LLP and Amis, Patel & Brewer, LLP served as legal counsel for Capital Dynamics.