Energy Capital Partners (ECP), one of the largest private investors in power and renewable assets in the United States, announced the closing of its sale of its 50% stake in Terra-Gen Power Holdings II (Terra-Gen), to Abu Dhabi Future Energy Company PJSC — Masdar (Masdar), the United Arab Emirates’ clean energy powerhouse. With the sale ECP has fully exited its position in Terra-Gen, one of the largest independent renewable energy power producers in the United States. Terra-Gen’s gross operating portfolio currently comprises 3.8GW of wind, solar, and battery storage projects, including 5.1GWh of energy storage facilities across 30 renewable power sites throughout the US, predominantly in California and Texas. Terra-Gen is currently developing more than 12GW of wind, solar, and battery storage projects in the US.
Latham & Watkins LLP represented ECP in the transaction with a corporate deal team led by New York partners David Kurzweil and Jane Greyf and New York counsel Alyssa Galinsky, with associates Daley King, Jordan Wampler, Sofia Skara, and Jonathan Kow.
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