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Recurrent Energy closes sale of 100-MW solar farm to Goldman Sachs Renewable


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Recurrent Energy closes sale of 100-MW solar farm to Goldman Sachs Renewable

Recurrent Energy LLC has closed the sale of its class B ownership interests in the 100-MW RE Mustang solar project in Kings County, Calif., to a subsidiary of Goldman Sachs Renewable Power LLC for undisclosed financial terms.

The solar farm consists of the 30-MW Mustang, 40-MW Mustang 3 and 30-MW Mustang 4 facilities as tenants-in-common under a shared facilities agreement. Passive tax equity investors will continue to own all noncontrolling class A membership interests in the solar facility.

Goldman Sachs Group Inc. owns less than 5% interest in Goldman Sachs Renewable. Therefore, for the purposes of Federal Energy Regulatory Commission regulations, Goldman Sachs Renewable is not affiliated with Goldman Sachs Group or any of its FERC-jurisdictional entities. Goldman Sachs Asset Management LP is the investment manager to Goldman Sachs Renewable Power.

FERC approved the deal March 29 and the parties closed the transaction May 9.

Recurrent is a subsidiary of Canadian Solar Inc. (FERC docket EC19-62)