Abu Dhabi state renewables firm Masdar announced on 1 October that it has closed the acquisition of a 50% stake in US renewables firm Terr-Gen from Energy Capital Partners (ECP) for an undisclosed fee. The deal was first agreed in March, and Terra-Gen has gross operating portfolio of 3.8GW of wind, solar and battery storage projects, including 5.1GWh of energy storage facilities across 30 sites. The acquisition significantly boosts Masdar’s US footprint, which previously comprised 1.4GW.
With a project pipeline of more than 12GW of wind, solar and battery storage projects in the US, Terra-Gen will play a significant role in Masdar’s planned expansion to 100GW global capacity by 2030, of which 10GW will come from the US. (CONTINUED - 195 WORDS)
