I Squared Capital takes over renewables developer Lincoln Clean Energy
January 12 – New York-based infrastructure investment manager I Squared Capital has bought Chicago-based renewable energy firm Lincoln Clean Energy for an undisclosed sum, the parties announced on Tuesday.
The transaction involves the purchase of an operating solar power station in New Jersey and Lincoln’s development and asset management platforms.
The acquired business develops, owns and operates wind and solar parks in North America. Since 2009, when it was founded, the company has developed over 1 GW of projects with a combined value of more than USD 1.5 billion (EUR 1.39bn). Through 2018 it plans to deploy some USD 250 million in equity investments.
“This is an opportune time to invest in the renewable energy sector,” said Adil Rahmathulla, partner at I Squared Capital, having in mind the recent extension of the 30% investment tax credit (ITC) for solar and the production tax credit (PTC) for wind power in the US.
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