Leeward Renewable Energy LLC, a portfolio company of ArcLight Capital Partners LLC, has acquired the U.S. wind assets of Infigen Energy. Financial terms weren’t announced. The deal includes Infigen’s U.S.-based asset management and operations business. UBS Investment Bank advised Infigen.
BOSTON, Oct. 28, 2015 /PRNewswire/ — ArcLight Capital Partners, LLC (“ArcLight”) announces the closing of the transaction between its newly formed portfolio company, Leeward Renewable Energy LLC, (“Leeward”) and Infigen Energy (“Infigen”) to acquire Infigen’s U.S. wind assets.
The current portfolio comprises equity interests in eighteen U.S. wind farms with a total installed capacity of approximately 1,557 MW, of which Infigen’s interests comprise 1,089 net MW. In addition, the acquisition includes Infigen’s U.S.-based asset management and operations business.
“This creates a growth opportunity for our wind business in the U.S.,” said Leeward Renewable Energy President David Smith. “We are pleased to join forces with ArcLight to efficiently and cost-effectively manage our existing assets while evaluating opportunities for growth.”
“ArcLight established Leeward Renewable Energy to acquire all of Infigen’s operating U.S wind business, including its capable management and operations team, and to serve as a platform for future acquisitions in the renewable energy sector,” said Dan Revers, Managing Partner of ArcLight Capital Partners.
Latham & Watkins LLP served as legal counsel and Ernst & Young LLP provided tax and accounting advice to ArcLight on the transaction. UBS Investment Bank was exclusive financial adviser and Skadden, Arps, Slate, Meagher & Flom LLP was legal counsel for Infigen on the transaction.
About ArcLight Capital Partners
ArcLight is one of the leading private equity firms focused on North American energy infrastructure assets. Since its establishment in 2001, ArcLight has invested over $13.1 billion across multiple energy cycles in more than 90 investments. Headquartered in Boston, Massachusetts with additional offices in Luxembourg, the firm’s investment team brings extensive energy expertise, industry relationships, and specialized value creation capabilities to its portfolio. More information on ArcLight, as well as a complete list of its portfolio companies, can be found at http://www.arclightcapital.com.
About Leeward Renewable Energy, LLC
Leeward Renewable Energy, LLC is a renewable energy business with interests in eighteen U.S. wind farms with a total installed capacity of approximately 1,557 MW. For further information please visit our website: www.leewardenergy.com.
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