Wednesday, August 17 2022 Sign In   |    Register
 

News Quick Search


 

News


Front Page
Power News
Today's News
Yesterday's News
Week of Aug 15
Week of Aug 08
Week of Aug 01
Week of Jul 25
Week of Jul 18
By Topic
By News Partner
Gas News
News Customization
Feedback

 

Pro Plus(+)


Add on products to your professional subscription.
  • Energy Archive News
  •  



    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    US Solar Fund takes another 25% stake in California solar farm


    June 7, 2022 - SeeNews Renewables

     

      June 7 (Renewables Now) - US Solar Fund Plc (LON:USF) has raised its ownership stake in the 200-MW (DC) Mount Signal 2 solar farm in California to 50%, it said today.

      The London-listed renewable energy fund said it reached financial close on its option to acquire a further 25% interest in the Mount Signal 2 plant in a deal that was structured in two tranches.

      Back in December 2020, USF struck a binding agreement to take a 50% stake from Australian solar farms investor and operator New Energy Solar Ltd (ASX:NEW) for a total price of between USD 44 million (USD 41.2m) and USD 46 million.

      The first tranche was closed for USD 23 million, which the closing price of the second half of the deal was subject to a performance-based adjustment mechanism. In an announcement today, USF did not disclose how much it spent on the second tranche transaction.

      The Mount Signal 2 solar farm, or MS2, is located in the Imperial Valley of Southern California. It came online in December 2019, and has been operating under a 20-year power purchase agreement (PPA) with Southern California Edison since June 2020.

      (USD 1.0 = EUR 0.937)

    TOP

    Other Articles - International


    TOP

       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2022 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.