SDCL Energy Efficiency Buys US Solar, Energy-Storage Projects -- Deal Digest
December 24 2020 - 3:23AM
Dow Jones News
By Adria Calatayud
ACQUIRER: SDCL Energy Efficiency Income Trust PLC, a U.K.-listed
investment company.
SELLER: Funds managed by Blackstone Group Inc.
TARGET: Portfolios of commercial and industrial solar and
energy-storage projects in the U.S., together with a 50% interest
in Onyx Renewable Partners, the platform that created them.
PRICE: Around $150 million.
STRUCTURE: Blackstone will remain a 50% partner in Onyx, SDCL
said.
EXPECTED CLOSE: Completion of the acquisition is expected in the
coming weeks.
RATIONALE: The projects acquired are aligned with SDCL's
investment strategy, as they will reduce the carbon footprint of
commercial and industrial clients, and diversify its portfolio, the
company said.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
December 24, 2020 03:08 ET (08:08 GMT)
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