Beacon Solar Portfolio Finds Two New Owners

Capital Dynamics, an independent global private asset management firm, has completed the sale of a majority interest in its Beacon portfolio to TortoiseEcofin and S&B USA Energy. Each buyer has acquired a 49.5% ownership of the portfolio. Capital Dynamics retains a minority stake of 1%.

The 107.8 MW DC Beacon portfolio consists of two projects: Beacon II (59.6 MW DC) and Beacon V (48.2 MW DC). Both sites interconnect and sell power to the Los Angeles Department of Water and Power (LADWP) under two 25-year fixed-rate power purchase agreements. The assets were wholly acquired from SunEdison during Q1 2016 and achieved commercial operations in Q4 2017.

“We are pleased to be investing in this proven utility-scale solar operating portfolio that generates 100% of its revenue under contract with an investment grade rated utility,” says Jerry Polacek, head of Ecofin’s private sustainable infrastructure team. “This acquisition closely aligns with our investors’ desire for sustainable dividends and attractive returns.”

Arevon Asset Management will continue to oversee operations of the portfolio on a day-to-day basis.

Photo: S&B USA Energy’s landing page

The post Beacon Solar Portfolio Finds Two New Owners appeared first on Solar Industry.

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