Capital Dynamics’ Clean Energy Infrastructure (CEI) business has completed the purchase of three solar PV projects from LS Power. Simultaneously CEI completed the placement of over $400 million in long-term, fixed-rate notes with top-tier institutional investors.

The portfolio comprises 316 MWdc of operating solar resources located in California, Arizona and Delaware. Each project utilizes commercially proven and efficient technology and is fully contracted under long-term power purchase agreements. The projects achieved commercial operations between 2011 and 2014.

The portfolio includes:

  • 100% interest in Centinela Solar Energy (252 MWdc), located in Imperial County, California.
  • 30% interest in Arlington Valley Solar Energy II (175 MWdc), located in Maricopa County. Arizona
  • 100% Interest in Dover Sun Park (11 MWdc), located in Dover, Delaware.

“This acquisition provides our investors with immediate capital deployment into a diversified, operating and highly contracted portfolio delivering long-term, stable cash yield,” said Tim Short, managing director of CEI at Capital Dynamics in New York. “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 a fleet exceeding 3.5 GW. 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.”

News item from Capital Dynamics