Activate Renewables, an acquirer of actual property and royalty pursuits in wind, photo voltaic and power storage, has closed on the acquisition of a portfolio of renewable floor leases from a fund managed by the Infrastructure Alternatives technique of Ares Administration.
The portfolio consists of wind and photo voltaic property leases collectively supporting greater than 115 MW of energy. The portfolio has belongings situated throughout three states with long-term energy buy agreements with off-takers. Phrases of the deal weren’t disclosed.
“We had been excited to have the chance to work with Ares on the sale of those belongings,” says Maria Klutey, president of Activate Renewables. “This transaction represented a perfect challenge for Activate, the place we may deploy our low-cost, everlasting capital to accumulate a beautiful portfolio.”
Activate Renewables works with renewable power builders throughout the U.S. to assist them improve returns and enhance capital effectivity by buying their land, lease or buy choices.
Up to now, Activate and its associates have acquired or signed agreements to fund acquisitions totaling almost 7,000 photo voltaic acres and 57 wind generators immediately supporting greater than 2.6 GW of present or deliberate renewable energy technology throughout 20 states.