Quinbrook buys US wind developer with 1.6-GW pipeline
Wind park in the US. Author: CGP Grey. License: Creative Commons, Attribution 2.0 Generic.
Investment manager Quinbrook Infrastructure Partners said Wednesday it has acquired a US wind power developer with a project pipeline of 1.6 GW that it plans to build out and grow.
The company acquired is Scout Clean Energy LLC, a Colorado-based wind developer and operator, led by wind industry veteran Michael Rucker. Its development portfolio is diversified across nine US states and represents a total capital investment of more than USD 1.7 billion (EUR 1.5bn), Quinbrook said. Most of the projects qualify for US production tax credits (PTCs).
"Quinbrook is taking the deliberate approach of pursuing attractive wind development sites supported by highly experienced teams prosecuting the development of PTC-qualified projects," said Shawn Cumberland, senior managing director of Quinbrook in the US. Cumberland added that Quinbrook intends to use Scout as a platform for further growth in wind power both organically and through complimentary acquisitions in North America.
Terms of the acquisition were not disclosed.
According to the announcement, Rucker, who had served as chief executive of Juwi Wind US Corp, and the Scout team together have originated, developed and completed nine wind projects totalling 649 MW across North America since 2011. Their most recent successful development was the 230-MW Mariah North project in Texas that started operations at the end of 2016.