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Capital Dynamics Sells 115 MWac Solar Projects in Rock and Green Counties

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Alliant Energy will acquire the projects and will complete the build-out

NEW YORK – October 21, 2020:  Capital Dynamics, an independent global private asset management firm, today announced the closing of the sale of the Paddock and Albany solar projects located in Rock and Green counties, Wisconsin, to Alliant Energy. The projects were developed by the Clean Energy Infrastructure (CEI) business of Capital Dynamics together with Tenaska, one of the largest private independent energy companies in the country.  

The Paddock and Albany solar projects will produce power for approximately 30,000 Wisconsin homes, and are expected to contribute to Alliant Energy’s goal of building 1,000 megawatts (MW) of solar in Wisconsin by 2023. The 65 MWac Paddock and 50 MWac Albany solar projects are expected to be in service by the end of 2023.

“Our Wisconsin projects were part of Capital Dynamic’s broader strategy for the MISO market, where we currently have more than 3GWac of solar projects under development,” said Tiago Sabino Dias, Executive Vice President of Development of Arevon Energy Management, the CEI platform’s dedicated energy solutions business. “It has been a pleasure to work with Alliant Energy as they pursue their goal of reaching 1GW of solar in Wisconsin. This deal could not have been done without the dedication of the Tenaska team to our projects.”

“The guiding principle in the relationship between Capital Dynamics and Tenaska is to grow solar in the United States,” said Steve Johnson, Senior Vice President in Tenaska’s Strategic Development & Acquisitions Group. “The sale of these projects to Alliant Energy aligns with that approach, and we are excited that the continued advancement of Paddock and Albany will mean more solar in the Upper Midwest.”

“We are excited to add these projects to our renewable portfolio, and proud to be delivering cleaner energy while investing in local communities,” stated Ben Lipari, Director of Resource Development at Alliant Energy. “Through our purpose-driven strategy, these projects represent continued investment where we have long-standing partnerships with local businesses and community leaders. The collaboration between Capital Dynamics and Tenaska has these projects well positioned for success.”  

Amis, Patel & Brewer acted as legal advisors to Capital Dynamics. In addition, Husch Blackwell and Tetra Tech consulted on the execution of the sale.

About Capital Dynamics

Capital Dynamics is an independent global asset management firm focusing on private assets including private equity, private credit and clean energy infrastructure.

Capital Dynamics’ Clean Energy Infrastructure is one of the largest renewable energy investment managers in the world with USD 6.5 billion AUM,[1] and has one of the longest track records in the industry. The CEI strategy was established to capture attractive investment opportunities in the largest and fastest growing sector of global infrastructure – proven renewable energy technologies, with a focus on utility-scale and distributed generation, solar, wind, and storage. The CEI platform’s dedicated asset management business provides highly-specialized services to ensure optimal performance and value from projects. The CEI strategy currently manages 7.9 GWdc of contracted gross power generation across more than 150 projects in the United States and Europe,[2] and is one of the top 3 global solar PV owners.[3]

Since the CEI platform’s inception in 2010, over 16 million metric tons of greenhouse gas emissions have been avoided as a result of the firm’s renewable investments. [4] This is equivalent to the power needed to supply more than 2 million homes or passenger vehicles for one year.[5] In 2019, the CEI strategy received top rankings from GRESB (the ESG benchmark for real assets) for commitment to sustainability, and was awarded Global PE Energy Firm of the Year by Private Equity International. For more information, please visit: www.capdyn.com.

 

For enquiries, contact:

Nicholas Rust | Prosek Partners
Office: 646.818.9252
Mobile: 917.439.0307
NRust@prosek.com

 

[1] Capital Dynamics, as of September 30, 2020. Includes assets in renewable energy projects managed by Capital Dynamics, including USD 4.1 billion assets under discretionary management and USD 2.4 billion tax equity assets. Tax equity is a financing solution for renewable energy projects.

[2] Capital Dynamics, as of September 30, 2020. Includes operational assets, partially commissioned assets and contracted assets with PPAs secured.

[3] Environmental benefits are based on US Environmental Protection Agency Greenhouse Gas Equivalencies Calculator.

[4] Renewable Assets (Owners) League Tables. Bloomberg New Energy Finance as of September 30, 2020. Includes (i) assets with financing secured / under construction, (ii) partially commissioned assets, and (iii) commissioned assets projects globally, excluding China.

[5] Environmental benefits are based on US Environmental Protection Agency Greenhouse Gas Equivalencies Calculator.

 

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