The Carlyle Group to purchase solar portfolio in New York from Noble Environmental Power

Global alternative asset manager The Carlyle Group and wind energy company Noble Environmental Power today announced that Carlyle, through its newly-established affiliate Zephyr Wind Energy, will acquire from Noble Environmental Power a 612 MW operating wind generation portfolio in New York along with a dedicated operations platform. The portfolio comprises six distinct wind farms located in Northern and Western New York. Financial terms of the transaction were not disclosed. The acquisition is subject to customary conditions, including regulatory approvals, and is expected to close in the fourth quarter of 2018.

The portfolio consists of:

• 97.5 MW Noble Altona wind project in Clinton County
• 106.5 MW Noble Chateaugay wind project in Franklin County
• 100.5 MW Noble Clinton wind project in Clinton County
• 81 MW Noble Ellenburg wind project in Clinton County
• 100.5 MW Noble Bliss wind project in Wyoming County
• 125 MW Noble Wethersfield wind project in Wyoming County

This portfolio of assets represents the largest operating wind platform in New York and plays an important role in helping New York State meet its requirement that 50% of the state’s electricity come from renewable resources by 2030. The portfolio currently produces 29% of New York State’s wind power.

When the acquisition of the Noble platform is completed, the total power generation portfolio of Carlyle Power Partners will increase to approximately 7,000 net MW. Equity capital for the transaction will come from Carlyle Power Partners II, L.P.