M&A Deal Summary

Capital Dynamics Acquires Solar Frontier Americas - 28 MW of Solar Projects

On September 12, 2017, asset manager Capital Dynamics acquired renewable energy company Solar Frontier Americas - 28 MW of Solar Projects from Solar Frontier Americas

Acquisition Highlights
  • This is Capital Dynamics’ 3rd transaction in the Renewable Energy sector.
  • This is Capital Dynamics’ 3rd transaction in the United States.
  • This is Capital Dynamics’ 2nd transaction in California.

M&A Deal Summary

Date 2017-09-12
Target Solar Frontier Americas - 28 MW of Solar Projects
Sector Renewable Energy
Buyer(s) Capital Dynamics
Sellers(s) Solar Frontier Americas
Deal Type Divestiture

Target

Solar Frontier Americas - 28 MW of Solar Projects

California, United States
Solar Frontier Americas 28 MW of Solar Projects Located in Fresno County, just South of San Joaquin, California, the sites combined have a planned capacity of 28 megawatts DC. The projects are packaged with permits and power purchase agreements (PPA) with Pacific Gas & Electric.

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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 3 of 10
Sector (Renewable Energy) 3 of 8
Type (Divestiture) 3 of 6
State (California) 2 of 4
Country (United States) 3 of 7
Year (2017) 3 of 3
PREVIOUS 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 -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-05 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 $1.7B

Seller(S) 1

SELLER

Solar Frontier Americas

Santa Clara, California, United States

Category Company
Sector Renewable Energy
DESCRIPTION

Solar Frontier Americas, Inc. is a manufacturerof CIS photovoltaic modules.


DEAL STATS #
Overall 3 of 3
Sector (Renewable Energy) 3 of 3
Type (Divestiture) 3 of 3
State (California) 2 of 2
Country (United States) 3 of 3
Year (2017) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-12 Solar Frontier Americas - 40 MW Solar Power Project

Santa Clara, California, United States

Solar Frontier Americas, Inc. - 40 MW Solar Power Project located in the Imperial County of California, is constructed with approximately 242,000 Solar Frontier advanced CIS solar modules mounted on NEXTracker’s high performance single-axis solar trackers. The project has a 25-year power purchase agreement (PPA) with the Imperial Irrigation District (the third largest public power utility in California serving the Imperial Valley) for the electricity produced by the plant.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-18 Recurrent Energy - Mustang Two Solar Project

San Francisco, California, United States

Recurrent Energy LLC - Mustang Two Solar Project Located on 1,400 acres in Kings County, California, the Mustang Two project is expected to create approximately 400 jobs during peak construction.

Buy -