In March, Abu Dhabi Future Energy Company PJSC – Masdar signed a definitive agreement to acquire a 50 percent stake in Terra-Gen Power Holdings II, one of the largest independent renewable-energy power producers in the United States, from Energy Capital Partners (ECP). Financial terms were not disclosed.
Established in 2007, Terra-Gen is an independent provider of end-to-end renewable project development, financing and operating capabilities. The company has a proven track record of developing, owning and operating assets across a large, diverse set of renewable technologies in attractive markets for renewables and storage in the United States. Terra-Gen currently operates 2.4 gigawatts of wind and solar and 5.1 gigawatt-hours of energy-storage facilities across 32 renewable power sites, predominantly in California and Texas.
Under the terms of the transaction, ECP, an investor across energy-transition, electrification and decarbonization infrastructure assets, will