Abu Dhabi Future Energy Company PJSC – Masdar has acquired a 50 percent stake in Terra-Gen Power Holdings II, one of the largest independent renewable-energy producers in the United States, from Energy Capital Partners (ECP). Financial terms were not disclosed.
ECP, one of the largest private investors in power and renewable assets in the United States, has now fully exited its position in Terra-Gen, and Igneo Infrastructure Partners retains its existing 50 percent stake in the company.
Terra-Gen’s gross operating portfolio currently consists of 3.8 gigawatts of wind, solar and battery storage projects, including 5.1 gigawatt-hours of energy storage facilities across 30 renewable sites throughout the United States. The company is currently developing more than 12 gigawatts of wind, solar and battery storage projects throughout the country, and its project pipeline includes 386 megawatts of Texas wind and California solar and 512 megawatt-hours of California energy