BOSTON, October 24, 2022: Morgan Lewis represented ECP (Energy Capital Partners) and its fund-of-one with Teachers Insurance and Annuity Association of America, Renewable Power Fund Plus LP, in the acquisition from Orsted of a 50% interest in a portfolio consisting of three onshore wind farms and one solar farm across four US states (Illinois, Nebraska, South Dakota, and Alabama) representing a total production capacity of 862 MW. The transaction is valued at approximately $410 million and was debt financed in part at closing by a syndicate of lenders led by MUFG Bank, Ltd.
ECP is a private equity firm dedicated to investments in energy transition, electrification, and decarbonization infrastructure assets, including power generation, renewables and storage solutions, environmental infrastructure and sustainability, and efficiency and reliability assets. Orsted has a portfolio of more than 5 GW of onshore wind and solar PV projects in operation or under construction across the United States and Europe.
The Morgan Lewis team advising ECP included partners Amy Maloney, Jon Morris, and Jane Kang, and associate Spencer Curtis.