September 24 (Renewables Now) - Global Atlantic Financial Group Ltd has agreed to acquire a minority stake of an undisclosed size in the holding company for US utility-scale solar developer Origis Energy, the parties announced today.
Global Atlantic, a retirement, life and reinsurance products provider that got separated from Goldman Sachs in 2013, will buy a minority interest in Miami, Florida-based Origis USA LLC. Moreover, it will acquire a series of Origis projects, having already invested in over 150 MW of utility-scale schemes developed by the particular firm, the announcement says.
The fresh deal bolsters the two companies’ co-investment in the development of new solar and energy storage projects and also allows them to team up for the acquisition and management of third-party developed and operational assets.
Origis Energy has so far been involved in the development of over 100 solar projects around the world with a combined capacity exceeding 1 GW.