Developer shops 1.4GW renewables portfolio

11 March 2019 - 12:00 am UTC

A U.S. developer is looking to sell a majority interest in a 1.4GW portfolio of contracted renewable energy projects.

Invenergy is looking to sell a majority interest in a 1.4GW portfolio of contracted wind and solar projects located in the U.S. and Uruguay.

Rubicon Infrastructure Advisors is running the process, which is code-named Project Indigo, Inframation‘s sister publication SparkSpread has learned.

A spokeswoman for Invenergy and an official at Rubicon declined comment.

Invenergy plans to sell an up-to 90% interest in the Project Indigo portfolio, which includes 170 MW of operating wind farms and 80 MW of operating solar parks.

The operating assets are contracted under power purchase agreements with an average remaining tenor of 21 years, according to an industry source.

The development projects, which are contracted under PPAs with an average remaining tenor of 17 years, will be sold at commercial operation.

Invenergy will retain a minority interest and will operate the assets.

Non-binding bids are due April 1 and Invenergy aims to close a transaction in June.

 

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