Excelsior Energy Capital’s North American Renewable Energy Fund has plans to acquire 90.1 percent of Invenergy’s sponsor equity interests in the combined 109-megawatt Prairie Breeze II and Prairie Breeze III projects, located in Nebraska’s Antelope and Boone counties.
Chris Moakley, managing partner of Excelsior, said the acquisition aligns with Excelsior’s strategy to acquire high-quality renewable power projects with stable, long-term contracted cash flows from experienced partners.
With the purchase, Invenergy will remain a non-controlling part-owner, with Invenergy Services to continue to provide operations and maintenance and asset management for the projects through a long-term contract.
The projects, which began operations in late 2015 and early 2016, respectively, have 25-year power-purchase agreements with Lincoln Electric Systems and the City of Grand Island, with remaining contract terms of more than 21 years. They also use General Electric wi
