Fengate acquires 50% stake in 227 MWac US solar portfolio in joint venture with Clearway Energy

Fengate Asset Management has acquired a 50% stake in a 227 MWac portfolio of 12 operating solar projects located in the western US. This transaction was completed through a 50/50 joint venture with independent power producer Clearway Energy. The investment supports Fengate's energy transition strategy to acquire core, operating long-term contracted renewable projects for its Fengate Infrastructure Yield Fund. This deal builds on an existing relationship between Fengate and Clearway, following a previous joint investment in an operational wind facility. The investment is managed on behalf of Fengate Infrastructure Yield Fund and its affiliated entities, including an investment by the LiUNA Pension Fund of Central and Eastern Canada.

Counterparts (2)

Seller

Clearway Energy Group

company · 1 deals

Clearway Energy Group is a leading US clean energy developer and operator. They develop, own, and operate a growing fleet of clean energy projects across the country, focusing on natural gas, storage, solar, and wind.

Buyer

Fengate Asset Management

company

Fengate is an investment firm managing over $25 billion in assets across infrastructure, private equity, and real estate in North America. The firm is an active investor and developer in energy transition, digital, social, and transportation infrastructure sectors.