Global Atlantic Financial Group has signed multiple agreements to take a minority stake in Origis USA, the holding company for US utility scale solar developer Origis Energy.
The transaction, which will strengthen the mutual activities of the companies in the renewable energy space, will also involve Global Atlantic’s acquisition of a series of projects developed by Origis.
Prior to this agreement, Global Atlantic has invested in over 150 megawatts (MW) of utility scale solar projects developed by Origis Energy.
Origis Energy CEO and president Guy Vanderhaegen said: “Global Atlantic and Origis Energy have a proven track record to competitively finance large scale solar plants.
“Our team welcomes this investment from Global Atlantic, a well-capitalized and adept investor in renewable energy. The agreement strengthens an already strong partnership and accelerates our position as a leading developer and long-term investor in U.S. solar and energy storage.”
Global Atlantic co-president and chief investment officer Gilles Dellaert said: “Investing in renewable energy is a long-term strategic focus for our company. Origis has been a great partner and we look forward to expanding our relationship.”
The agreement further strengthens Origis and Global Atlantic’s co-investment in development of new solar and energy storage investments and provides for partnership in acquisition and management of third party developed and operational assets.
Citi served as sole financial advisor to Origis Energy.
Source: Company Press Release