Masdar has announced that it has signed a definitive agreement to acquire a 50 percent stake in Terra-Gen Power Holdings II (Terra-Gen), an independent renewable energy power producer in the USA, from Energy Capital Partners (ECP).
ECP, an investor across energy transition, electrification, and decarbonization infrastructure assets, will fully exit its position in Terra-Gen in connection with the transaction. Igneo Infrastructure Partners (“Igneo”), a global infrastructure investment manager, will retain its existing 50 percent stake in the company. Igneo made its initial investment in Terra-Gen in December 2020. Terra-Gen currently operates approximately 2.4 gigawatts (GW) of wind and solar, and 5.1 gigawatt-hours (GWh) of energy storage facilities across 32 renewable power sites throughout the USA, predominantly in California and Texas. The transaction is expected to close by the end of 2024, subject to regulatory and other customary approvals.
