RET Capital buys three Georgia solar facilities from Origis USA

Renewable Energy Trust Capital (RET Capital) said Jan. 15 that it has acquired the Camilla, Camp and Upson operating solar photovoltaic (PV) systems, totaling 24.5 MW (dc), from Origis USA.

The projects are located in Georgia and benefit from long-term contracted revenues through 20-year power-purchase agreements with Georgia Power, RET Capital noted. Under the agreement Origis will continue to provide O&M and asset management services.

In addition to this initial acquisition, RET Capital and Origis have executed a broad “Collaboration Framework Agreement” under which RET Capital will provide Origis a long-term reliable source of capital for its high quality assets. Origis will provide development, EPC, O&M and asset management services for its rapidly expanding pipeline in North America. RET Capital and Origis will also continue to work together to expand their co-development and acquisition efforts.

RET Capital, which has offices in New York and San Francisco, said it is building a leading growth and asset management platform for the renewable energy industry. It is collaborating with middle market developers and other industry stakeholders to lower their cost of capital, increase standardization, and facilitate accelerated growth.

“RET Capital is pleased to acquire these high-quality assets, our first in the Southeast, and looks forward to growing its business with this exciting new Asset Partner,” said John A. Bohn, chief executive officer and chairman of RET Capital.

“These solar power projects are a prized development, among the first built under the Georgia Power solicitation, and we are pleased that RET Capital has acquired these quality assets to anchor what we hope will be a long and productive partnership,” said Guy Vanderhaegen, president of Origis.

Recently, RET Capital announced a deal with Canadian Solar to acquire three utility-scale solar power plants in Ontario delivering 40.9 MW (dc).

RET Capital’s lead investor is BlueMountain Capital Management, an investment firm focused on the global credit markets and equity derivatives markets. BlueMountain has a $19bn portfolio and it or its affiliates have offices in New York, London and Tokyo.

RET Capital is an independent finance platform established to lower the cost of capital for qualified developers and other industry stakeholders by providing reliable takeout financing. Focusing on the middle market and working toward standardization, RET Capital helps to facilitate accelerated growth in the North American renewable marketplace by working closely with selected Asset Partners to establish long-term relationships with developers, EPC firms and utilities to provide growth velocity, predictability and improved margins.

Origis Energy is a leading international investment and development firm focused on deployment of utility-scale and distributed generation commercial solar photovoltaic systems. Building on its existing portfolio of more than 100 solar PV projects in six countries, the company is focused on expansion in the U.S. and Latin America.

About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.