Announced
Financials
Sources
Tags
energy services
Alternative Electricity
solar energy
wind energy
United States
geothermal energy
renewable energy
Acquisition
Private
Friendly
Cross Border
Private Equity
Pending
Minority
Single Bidder
Synopsis
Masdar, the United Arab Emirates' clean energy powerhouse, agreed to acquire a 50% stake in Terra-Gen, an independent renewable energy power producer in the United States, from Energy Capital Partners, a private equity firm. Financial terms were not disclosed. "Our investment in Terra-Gen's impressive energy portfolio expands our existing US footprint and reinforces Masdar's long-term commitment across our US portfolio. This transaction unites one of the largest independent renewable energy producers in the US with Masdar – one of the fastest growing clean energy companies in the world. We look forward to working alongside Igneo as our valued partner to accelerate Terra-Gen's growth and deliver world-class innovation at utility scale in support of the global energy transition," Mohamed Jameel Al Ramahi, Masdar CEO.
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