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SDCL Energy Efficiency to acquire US solar assets for $150m
StockMarketWire.com
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Energy efficiency investor SDCL Energy Efficiency Income Trust said it had agreed to acquire US solar assets from funds managed by Blackstone for around $150 million.
The deal would see SDCL buy a series of portfolios of commercial and industrial on-site solar and energy storage projects, together with a 50% interest in the platform that has created them, Onyx Renewable Partners.
Blackstone would remain a 50% partner in Onyx.
SDCL would fully acquire four portfolios totalling over 175 megawatts and a 50% interest in Onyx's follow-on pipeline, projected to exceed 500MW over the next five years.
The four portfolios comprised over 200 operational, construction and development stage rooftop, carport and 'private wire' ground mounted solar PV projects, located in 18 US states.
Clients included municipalities, universities, schools, hospitals, military housing providers, utilities and corporates.
'The projects will make a meaningful impact to reduce the carbon footprint of commercial and industrial clients across the US by providing cheaper, cleaner and more reliable energy directly at the point of use ...,' said Jonathan Maxwell, chief executive of Sustainable Development Capital.
Story provided by StockMarketWire.com
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