M&A Deal Summary

Capital Dynamics Acquires First Solar - Moapa Southern Paiute Solar Project

On March 30, 2017, asset manager Capital Dynamics acquired renewable energy company First Solar - Moapa Southern Paiute Solar Project from First Solar

Acquisition Highlights
  • This is Capital Dynamics’ 1st transaction in the Renewable Energy sector.
  • This is Capital Dynamics’ 1st transaction in the United States.
  • This is Capital Dynamics’ 1st transaction in Nevada.

M&A Deal Summary

Date 2017-03-30
Target First Solar - Moapa Southern Paiute Solar Project
Sector Renewable Energy
Buyer(s) Capital Dynamics
Sellers(s) First Solar
Deal Type Divestiture

Target

First Solar - Moapa Southern Paiute Solar Project

Clark County, Nevada, United States
First Solar's Moapa Southern Paiute Solar Project is a 250MWACsolar photovoltaic facility located in Clark County, Nevada. The facility began operating in December 2016 and sells its entire output to Los Angeles Department of Water and Power (LADWP) under a 25-year power purchase agreement. The California State Teachers' Retirement System (CalSTRS) and the Netherland's APG Asset Management were also significant equity participants in the project.

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Buyer(S) 1

Buyer

Capital Dynamics

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1999
PE ASSETS 26.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Capital Dynamics AG is an independent global asset management firm focusing on private assets including private equity, private credit, clean energy infrastructure and energy infrastructure credit. Capital Dynamics offers a diversified range of offerings and solutions for a global client base, including corporations, family offices, foundations and endowments, high net worth individuals, pension funds and others. Capital Dynamics AG was established in 1999 and is headquartered in Zug, Switzerland.


DEAL STATS #
Overall 1 of 10
Sector (Renewable Energy) 1 of 8
Type (Divestiture) 1 of 6
State (Nevada) 1 of 1
Country (United States) 1 of 7
Year (2017) 1 of 3
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-22 First Solar - California Flats Solar Project

Monterey County, California, United States

First Solar's California Flats Solar Project is a 280 Megawatt (MW)AC, Located on approximately 2,900 acres of ranch land within the Jack Ranch owned by the Hearst Corporation near the San Luis Obispo and Monterey County borders, California Flats comprises two phases. The first 130 MW of production went online in November 2017 and the projected was completed in spring 2019. The 150MW second phase, is expected to be commissioned by the end of 2018, and is fully contracted under a long-term PPA.

Buy -

Seller(S) 1

SELLER

First Solar

Tempe, Arizona, United States

Category Company
Founded 1999
Sector Renewable Energy
Employees6,700
Revenue 3.3B USD (2023)
DESCRIPTION
Entrance to First Solar's corporate headquarters in Tempe, Arizona.
Entrance to First Solar's corporate headquarters in Tempe, Arizona.

First Solar is a global provider of solar energy solutions, focused on providing power solutions across various market segments. The Company designs, manufactures and sells photovoltaic solar modules with an advanced thin-film semiconductor technology and the Company develops, designs, constructs and sells PV solar power solutions that primarily use the solar modules it manufactures. Additionally, First Solar provides operations and maintenance services to plant owners that use solar modules manufactured by the Company or by other third-party manufacturers. First Solar was incorporated in 1999 and is based in Tempe, Arizona.


DEAL STATS #
Overall 1 of 9
Sector (Renewable Energy) 1 of 8
Type (Divestiture) 1 of 8
State (Nevada) 1 of 1
Country (United States) 1 of 8
Year (2017) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 8point3 Energy Partners

San Jose, California, United States

8point3 Energy Partners is an owns, operator and acquire of solar energy generation projects. The Partnership owns interests in projects in the United States that generate long-term contracted cash flows and serve utility, commercial and residential customers. 8point3 Energy Partners was founded in 2015 and is based in San Jose, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-22 First Solar - California Flats Solar Project

Monterey County, California, United States

First Solar's California Flats Solar Project is a 280 Megawatt (MW)AC, Located on approximately 2,900 acres of ranch land within the Jack Ranch owned by the Hearst Corporation near the San Luis Obispo and Monterey County borders, California Flats comprises two phases. The first 130 MW of production went online in November 2017 and the projected was completed in spring 2019. The 150MW second phase, is expected to be commissioned by the end of 2018, and is fully contracted under a long-term PPA.

Sell -