Dubai: The Abu Dhabi alt-energy company Masdar has bought a 50 per cent stake in Terra-Gen Power Holdings II, which is one of the bigger independent renewable energy power companies in the US.
The stake was bought from Energy Capital Partners, one of the largest private investors in power and renewable assets within the US.
The remaining 50 per cent in Terra Gen will continue to be held by Igneo Infrastructure Partners.
Masdar already has a sizeable presence in the US, through four utility-scale wind projects in Texas and New Mexico and five solar projects in California. (Two of the solar projects - Big Beau and Desert Harvest - include battery energy storage systems, according to the company's website.)
Terra-Gen’s gross portfolio comprises 3.8GW of wind, solar, and battery storage projects, including 5.1 GWh of energy storage facilities across renewable power sites, predominantly in California and Texas. The company is developing a pipeline of 12 GW plus of wind, solar and battery storage projects in the US.
