The Carlyle Group, through its newly established affiliate Zephyr Wind Energy, will acquire from Noble Environmental Power a 612-megawatt operating wind generation portfolio in New York along with a dedicated operations platform.
Financial terms of the transaction were not disclosed.
The portfolio comprises six distinct wind farms located in Northern and Western New York.
The to-be-acquired portfolio includes:
- Three wind farms in Clinton County totaling 279 megawatts
- Two wind farms in Wyoming County totaling 227 megawatts
- One wind farm in Franklin County totaling 106 megawatts
This portfolio of assets represents the largest operating wind platform in New York and plays an important role in helping New York State meet its requirement that 50 percent of the state’s electricity come from renewable resources by 2030. The portfolio currently produces 29 percent of New York State’s wind power.
When the acquisition of the Noble platform is completed, the total power generation portfolio of Carlyle Power Partners will increase to approximately 7,000 net megawatts. Equity capital for the transaction will come from Carlyle Power Partners II.
The acquisition is subject to customary conditions, including regulatory approvals, and is expected to close in the fourth quarter of 2018.
