SAN FRANCISCO–(BUSINESS WIRE)–January 15, 2015 —Renewable Energy Trust Capital, Inc. (RET Capital) is pleased to announce that it has acquired the Camilla, Camp and Upson operating solar PV systems, totaling 24.5 MW DC from Origis USA, Inc. (“Origis”). The projects
SAN FRANCISCO–(BUSINESS WIRE)–January 15, 2015 —Renewable Energy Trust Capital, Inc. (RET Capital) is pleased to announce that it has acquired the Camilla, Camp and Upson operating solar PV systems, totaling 24.5 MW DC from Origis USA, Inc. (“Origis”). The projects are located in Georgia and benefit from long-term contracted revenues through 20-year power-purchase agreements with Georgia Power to provide clean, reliable and affordable solar power to the utility. Under the agreement Origis will continue to provide O&M and asset management services.
In addition to this initial acquisition, RET Capital and Origis have executed a broad Collaboration Framework Agreement providing both partners substantial benefits and accelerated growth. RET Capital will provide Origis a long-term reliable source of capital for its high quality assets. Origis will provide development, EPC, O&M and asset management services for its rapidly expanding pipeline in North America. Additionally, RET Capital and Origis will continue to work together to expand their co-development and acquisition efforts.
RET Capital, which has offices in New York and San Francisco, is building a leading growth and asset management platform for the renewable energy industry. It is collaborating with middle market developers and other industry stakeholders to lower their cost of capital, increase standardization, and facilitate accelerated growth.
“RET Capital is pleased to acquire these high-quality assets, our first in the Southeast, and looks forward to growing its business with this exciting new Asset Partner,” said John A. Bohn, chief executive officer and chairman of RET Capital.
“These solar power projects are a prized development, among the first built under the Georgia Power solicitation, and we are pleased that RET Capital has acquired these quality assets to anchor what we hope will be a long and productive partnership,” said Guy Vanderhaegen, president of Origis. “RET Capital and Origis share the goal of supplying renewable power to customers across the United States.”
Last week RET Capital announced a deal with Canadian Solar to acquire three utility-scale solar power plants in Ontario delivering 40.9 MW DC to area households.
RET Capital’s lead investor is BlueMountain Capital Management, an investment firm focused on the global credit markets and equity derivatives markets. BlueMountain Capital Management has a $19 billion portfolio and it or its affiliates have offices in New York, London and Tokyo.
RET Capital is an independent finance platform established to lower the cost of capital for qualified developers and other industry stakeholders by providing reliable takeout financing. Focusing on the middle market and working toward standardization, RET Capital helps to facilitate accelerated growth in the North American renewable marketplace by working closely with selected Asset Partners to establish long-term relationships with developers, EPC firms and utilities to provide growth velocity, predictability and improved margins. RET Capital collaborates with its Asset Partners to tailor a suitable acquisition strategy and provide predictable “take-out” financing for development liquidity. The RET Capital team endeavors to meet Asset Partners’ objectives through innovative ways to structure and design portfolio acquisition and joint ownership opportunities.
Origis Energy is a leading international investment and development firm focused on deployment of utility-scale and distributed generation commercial solar photovoltaic (PV) systems. Building on its existing portfolio of more than 100 solar PV projects in 6 countries, the company is focused on expansion in the U.S. and Latin America. The company offers a full spectrum of solar PV asset development, construction, financing and operation services.
BlueMountain Capital Management is an investment firm focused on the global credit markets and equity derivatives markets. BlueMountain, founded in 2003, is led by a senior and experienced management team of the following nine Managing Partners who work together in close collaboration: Andrew Feldstein, Alan Gerstein, Peter Greatrex, Michael Liberman, Bryce Markus, David Rubenstein, Jes Staley, Stephen Siderow and Derek Smith. The firm has been SEC-registered since its inception.
BlueMountain’s investment approach integrates fundamental company research, advanced quantitative methods and market and product knowledge. Its investment strategies range from highly fundamental to nearly pure arbitrage. BlueMountain’s edge lies in its focus on the seams and intersection of markets characterized by a high degree of artificial boundaries amongst instrument types and investment mandate.
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