Masdar has signed a definitive agreement to acquire a 50% stake in Terra-Gen Power Holdings from Energy Capital Partners (ECP), who will fully exit its position in Terra-Gen in connection with the transaction.
Established in 2007, Terra-Gen is a provider of end-to-end renewable project development, financing and operating capabilities. It currently operates approximately 2.4 GW of wind and solar and 5.1 GWh of energy storage facilities across 32 U.S. sites, predominantly in California and Texas.
“Our investment in Terra-Gen’s impressive energy portfolio expands our existing U.S. footprint and reinforces Masdar’s long-term commitment across our U.S. portfolio,” says Mohamed Jameel Al Ramahi, CEO of Masdar.
“This transaction unites one of the largest independent renewable energy producers in the U.S. with Masdar, one of the fastest growing clean energy companies in the world. We look forward to working alongside Igneo as our valued partner to accelerate Terra-Gen’s growth and deliver world-class innovation at utility scale in support of the global energy transition.”
The transaction is expected to close by the end of 2024. Igneo Infrastructure Partners will retain its existing 50% stake in the company. The company made its initial investment in Terra-Gen in 2020.
Lazard and Guggenheim Securities are serving as financial advisors and Latham & Watkins is serving as legal advisor to Terra-Gen. BMO Capital Markets and JP Morgan are serving as financial advisors and White & Case and Covington & Burling are serving as legal advisors to Masdar. Mayer Brown is serving as legal advisor to Igneo.
The post Masdar to Acquire 50% Stake in Terra-Gen from Energy Capital Partners appeared first on Solar Industry.
Masdar to Acquire 50% Stake in Terra-Gen from Energy Capital Partners
Weather Guard Lightning Tech
Trump Targets Revolution Wind, Nordex Q3 EBITDA Doubles
Allen covers the Trump administration’s bid to reopen Revolution Wind’s permit, a bipartisan Senate permitting deal, Nordex’s doubled third-quarter profit, and GE Vernova’s new wind chief.
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Have you ever wondered why every dictator in human history follows the exact same playbook? Check this outPlato nailed this 2400 years ago, and it’s been on “rinse/repeat” ever since.
On average, I meet perhaps 50 K-12 teachers each year, and I often ask them: What is the biggest challenge you face that impacts your ability to connect with and educate your students?
Here’s a rough tabulation:
Screen time, how it robs kids of their ability to pay attention, impedes social interaction, and makes parenting more difficult: 80%
Everything else combined: 20%
Maybe this is a cynical viewpoint, but it seems like that world of today revolves around the mega-corporations profiting by punishing their customers.
In this case, we have the tech giants ruining the lives of our children. Elsewhere, we have healthcare industry driving people into bankruptcy, Big Oil ruining our planet, the gun lobby murdering our kids, and, of course, an ultra-corrupt government looting our treasury to pay off billionaire donors.
Note that this wasn’t the case when we boomers were growing up 60 years ago. This is a distinctive shift from the 1960s when corporate America was focused on things like color TVs and the Ford Mustang.
Sustainability In Your Ear: XPRIZE’s David Babson on Why Climate Grand Challenges Need Buyers, Too
Trump Targets Revolution Wind, Nordex Q3 EBITDA Doubles
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