Carlyle buys 100 MW of under-construction solar plants in Maine

Investment firm The Carlyle Group (NASDAQ:CG) has purchased an under-construction portfolio of over 100 MW of solar projects in Maine from power producer BNRG.

Through its newly-established affiliate Acadia Renewable Energy LLC, the New York-based asset manager has bought eight photovoltaic (PV) projects in the southern part of the state, all of which have in place 20-year off-take deals with electric utilities Central Maine Power and Versant Power. Carlyle’s Renewable & Sustainable Energy Fund provided equity capital for the deal, the value of which was not disclosed.

Touted as the largest solar portfolio being installed in Maine, the project will require an overall capital investment of over USD 130 million (EUR 110.1m) to be realised. The construction of the solar plants was initiated in June, while their commissioning is planned to occur by the third quarter of 2021.

Once up and running, the solar parks will be capable of producing enough electricity to meet the demand of almost 19,000 local homes.

Following the sale, BNRG and its local partner Dirigo Solar will partner with Carlyle for the development and construction management of the assets. The new owner has also secured construction and permanent debt to finance the portfolio.

(USD 1.0 = EUR 0.847)

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