The acquisition include three operating solar facilities that are located in California, Arizona, and Delaware

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The Kita solar plant is expected to produce enough electricity to power 120,000 Malian homes. (Credit: andreas160578 from Pixabay)

Capital Dynamics has announced that its Clean Energy Infrastructure (CEI) business has completed the acquisition of 316MW solar photovoltaic projects from LS Power.

The acquisition include three operating solar facilities that are located in California, Arizona, and Delaware.

The solar facilities, which were commissioned between 2011 and 2014, are fully contracted under long-term power purchase agreements.

Capital Dynamics has acquired 100% in the 252MW Centinela Solar Energy, located in Imperial County, California.

The transaction also includes acquisition of a 30% stake in 175MW Arlington Valley Solar Energy II, located in Maricopa County, Arizona.

In addition, the global private asset management firm has also bought 100% stake in 11MW Dover Sun Park, located in Dover, Delaware, from LS Power.

Capital Dynamics clean energy infrastructure New York managing director Tim Short said: “This acquisition provides our investors with immediate capital deployment into a diversified, operating and highly contracted portfolio delivering long-term, stable cash yield.

“With the addition of these high-quality assets, our team further cements our position as the largest private owner of solar assets in the United States, with an operating fleet exceeding 3.5 gigawatts (GWdc).

“This transaction demonstrates our ability to leverage that scale and add value, serving as another example of our ability to deliver execution certainty to our partners against the backdrop of an unprecedentedly challenging year.”

With $6.5bn assets under management, Capital Dynamics’ Clean Energy Infrastructure is one of the major renewable energy investment managers.

In June, Capital Dynamics had completed the acquisition of 353MW solar portfolio from an independent power producer Coronal Energy.

The acquisition included a portfolio of 16 operating solar projects in Arizona, California, Florida, Virginia, Tennessee, and Ontario, Canada,