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Bloomberg
BlackRock Inc and CleanCapital LLC bought a 46.9-megawatt portfolio of US solar power from a unit of ATN International Inc.
The 60 projects are in California, Massachusetts and New Jersey, CleanCapital said in a statement. ATN’s Chief Financial Officer Justin Benincasa said in an email that the purchase price was $64.3 million. Including assumed debt of $55.5 million and some other adjustments, the transaction is worth $120.9 million.
Under the arrangement, BlackRock will provide capital for the jointly owned partnership, and CleanCapital will originate, underwrite and manage distributed-energy asset acquisitions, Thomas Byrne, CleanCapital’s chief executive officer, said in an email.