A&O advises InfraRed on investment in North American renewables portfolio
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A&O announced it acted as counsel to InfraRed Capital Partners (InfraRed) on its acquisition of an equity interest in a 665 MW portfolio of renewable energy assets from ENGIE North America (ENGIE). The portfolio comprises two wind projects, Iron Star and Priddy, and one solar project, Hawtree. A&O advised InfraRed on its 49% acquisition of the equity in this renewable energy portfolio. Under the terms of the agreement, ENGIE will retain the remaining 51% equity in the projects.
The portfolio, spanning Kansas, Texas and North Carolina, produces enough renewable energy power to meet the needs of around 200,000 average American homes. Of the wind projects, Iron Star comprises 62 wind turbines capable of producing 4.8 MW each, and Priddy has 63 turbines of the same size in operation. Additionally, the Hawtree solar project capacity is equal to 65 MWac.
“As the transition to a net-zero future is underway, we are proud to advise our clients, including InfraRed, as they embark on significant renewable energy partnerships across the globe,” said A&O partner Matt Nesburn. “We look forward to leveraging our depth of expertise in renewables to support more impactful transactions like this to provide essential clean power to communities in the U.S.”
Spearheaded by partner Matt Nesburn of A&O’s Global Projects, Energy, Natural Resources and Infrastructure practice, the A&O team included partners Sam Kamyans and Chip Cannon, as well as associates Mike Sykes, Tyler Conte and Divya Rao.