The solar projects are fully contracted under long-term power purchase agreements
Capital Dynamics announced that its Clean Energy Infrastructure (CEI) business has signed an agreement with LS Power to acquire stake in 316MW of solar photovoltaic (PV) projects in the US.
The three operating solar projects are located in in California, Arizona, and Delaware.
Fully contracted under long-term power purchase agreements, the projects include the Dover Sun Park, the Arlington Valley Solar Energy II and the Centinela Solar Energy projects.
LS Power was the original developer of the three solar projects.
LS Power renewables head John King said: “When we began work on these projects a dozen years ago, we established ourselves as a market leader in utility scale solar development in the U.S. At that time, these projects were considered audacious in scope and scale, and the development and execution was challenging.
“We are proud of what we accomplished and pleased that Capital Dynamics, an experienced owner and operator of solar generation, will approach their stewardship of these projects with a similar long-term orientation.”
Capital Dynamics to acquire 30% in Arlington Valley Solar Energy II
Located in Imperial County, California, Centinela Solar Energy has been operating since 2014, with a power generation capacity of 252MW.
The Arlington Valley Solar Energy II, with a capacity of 53MW, is located in Maricopa County, Arizona. Located in Dover, Delaware, Dover Sun Park has 11MW capacity.
Under the terms of the agreement, Capital Dynamics will acquire 100% interest in the Centinela Solar Energy and the Dover Sun Park.
The company will acquire a 30% stake in Arlington Valley Solar Energy II that has been operating since 2013.
Subject to customary regulatory approvals, the transaction is expected to close in the fourth quarter of 2020.
In August, Capital Dynamics signed an agreement with the US-based energy company Tenaska to build nine battery energy storage system (BESS) projects in California, US.