{"id":90220,"date":"2024-03-20T00:00:00","date_gmt":"2024-03-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/masdar-to-acquire-50-of-us-renewable-energy-producer\/"},"modified":"2024-03-20T00:00:00","modified_gmt":"2024-03-20T00:00:00","slug":"masdar-to-acquire-50-of-us-renewable-energy-producer","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/03\/20\/masdar-to-acquire-50-of-us-renewable-energy-producer\/","title":{"rendered":"Masdar to acquire 50% of US renewable energy producer"},"content":{"rendered":"

Another one in the bag for Masdar: <\/strong>Renewables giant Masdar signed anagreement to acquire a 50% stake in one of the largest independent renewable energy producers in the United States, Terra-Gen Power<\/a> Holdings, according to a statement<\/a>. The value of the acquisition \u2014 which was purchased from Energy Capital Partners (ECP)<\/a> \u2014 was not disclosed. The acquisition is expected to be finalized by the end of the year.<\/p>\n

Who owns what? <\/strong>Masdar will fully acquire ECP\u2019s shares in Terra-Gen while infrastructure investment manager Igneo Infrastructure Partners<\/a> will keep its 50% stake in the company which it acquired in 2020.<\/p>\n

The purchase aims to kickstart Terra-Gen\u2019s expansion plans: <\/strong>\u201cUpon closing, we look forward to actively partnering with Igneo and working closely with Terra-Gen\u2019s experienced management team to support Terra-Gen\u2019s operations, facilitate its development of new capacity renewable energy projects and expand its presence in and beyond its key markets,\u201d said Masdar Americas President and CEO Philip Haddad.<\/p>\n

Masdar\u2019s global portfolio is growing: <\/strong>The renewables giant reached financial close on EUR 488 mn in funding to secure its 49% acquisition of the 476 MW Baltic Eagle wind farm off the coast of Germany earlier this week<\/a>. Masdar is also eyeing an undisclosed stake in Turkish wind producer Fiba Yenilenebilir Enerji and a majority stake in India\u2019s Ayana Renewable Power. The Emirati renewables giant is planning to build a global portfolio of 100 GW renewables capacity by 2030. <\/p>\n

About Terra-Gen Power:<\/strong> Established in 2007, Terra-Gen<\/a> is a leading independent provider of end-to-end renewable project development, financing and operating capabilities. Terra-Gen currently operates approximately 2.4 GW of wind and solar, and 5.1 GWh of energy storage facilities across 32 renewable power sites.<\/p>\n

ADVISORS-<\/strong>BMO Capital Markets and JP Morgan are serving as financial advisors and White & Case and Covington & Burling are serving as legal advisors to Masdar. Lazard and Guggenheim Securities are serving as financial advisors and Latham & Watkins is serving as legal advisor to Terra-Gen.<\/p>\n","protected":false},"excerpt":{"rendered":"

The acquisition will be finalized by the end of 2024<\/p>\n","protected":false},"author":1,"featured_media":90221,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2392],"tags":[7,1344,60,171,211],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-90220","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-enterpriseam-uae","tag-ma","tag-ma-watch","tag-masdar","tag-renewables","wpautop","entry"],"acf":{"mongo_id":"daf7a451-36ab-49f6-8a1a-2504074fd65a","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/1722.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Masdar to acquire 50% of US renewable energy producer Terra-Gen Power","related_issue":[90214],"teaser":"The acquisition will be finalized by the end of 2024","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.aad44f50-840b-44b5-bf02-728bc8db5821.mp3"},"yoast_head":"\nMasdar to acquire 50% of US renewable energy producer - 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