The clean energy infrastructure (CEI) team of Capital Dynamics, an independent global asset manager, has signed an agreement to acquire 32% and 25% equity participation in two Imperial Valley, Calif.-based solar projects, CSolar South and West, respectively.
The CSolar interests were acquired from independent power producer Tenaska. Capital Dynamics partnered with Hanwha Asset Management for the deal.
The projects, which have a combined capacity of 354 MW DC, has achieved commercial operations and secured a long-term power purchase agreement with a California-based utility.
“This agreement continues our investment momentum and reinforces our strategy of identifying high-quality investment opportunities,” says John Breckenridge, head of Capital Dynamics’ CEI business. “Tenaska is a key business relationship, and we are delighted with the completion of this transaction. As one of the largest owners of renewable power projects in the U.S., we remain committed to our institutional partners and dedicated to execution excellence.”
The firm’s CEI team has invested in more than 1.5 GW of solar projects in the last year.