- Macquarie Infrastructure Corporation (NYSE:MIC), through its subsidiary MIC Renewable Energy Holdings entered into an agreement to acquire the sponsor equity in the 80 megawatt Utah Red Hills solar power facility from Scatec Solar ASA for an undisclosed sum.
- The Utah Red Hills facility was completed in December 2015 and is expected to commence the 20 year power purchase agreement in December 2016. Power will be sold to PacifiCorp, a subsidiary of Berkshire Hathaway Energy serving 1.8M consumers across six states
- “We are pleased to have reached agreement for the acquisition of an eighth solar photovoltaic facility and increased the size of our portfolio of renewable power generation to nearly 350 megawatts,” said James Hooke, chief executive officer of MIC. “The Utah Red Hills plant is expected to contribute to improved visibility into our cash generation as a result of both a proven level of production and a power purchase agreement with a remaining life of 20 years.”
- Press Release