The Renewable Power Group of Goldman Sachs Asset Management has completed the purchase of a remaining equity stake of Recurrent Energy, a unit of Canadian Solar, in the 100 MW Mustang solar photovoltaic project located in Kings County, California, USA.
The solar power plant is built over 450 hectares of land and has been in operation since 2016. It has a long-term power purchase agreement (PPA) deal with Sonoma Clean Power and MCE. Canadian Solar will continue to provide asset management services to the project.
The deal includes the sale of Recurrent’s Class B ownership interests in the 30-MW Mustang, 40-MW Mustang 3 and 30-MW Mustang 4 facilities, while passive tax equity investors will continue to own all noncontrolling Class A membership interests.
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