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7/09/15
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Renewable Energy Trust Capital Inc (RET Capital) has acquired Coram Wind Project, an operating 102-megawatt (MW) power plant in SoCal’s Kern County. The plant, located in Tehachapi, was completed in May 2012.
Coram Wind Project, which was sold by BAIF U.S. Renewable Power Holdings LLC, benefits from long-term contracted revenues through a power purchase agreement with Pacific Gas & Electric Company to provide clean, reliable and affordable power to the utility.
According to John A. Bohn, chief executive officer and chairman of RET Capital, with this new acquisition RET Capital’s total renewable energy portfolio tops 200 MW DC. The firm, which has offices in San Francisco and New York, is building a leading growth and asset management platform for the renewable energy industry. The company collaborates with developers and other industry stakeholders to lower the cost of capital, increase standardization, and facilitate accelerated growth.
RET Capital’s lead investor is BlueMountain Capital Management, an investment firm with approximately $21 bil of assets under management and offices in New York and London. Just last month, RET Capital announced the close of CAD $66 mil of non-recourse debt to support the acquisition of the CityLights solar facility from Canadian Solar Inc in Ontario, Canada.
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