Greentech advises Macquarie on the sale of interests in Intersect Power to SB Energy
October 31, 2019
Macquarie Infrastructure Corporation (NYSE: MIC) owns and operates a diversified group of businesses providing basic services to customers in the United States. Its businesses consist of a bulk liquid terminals business, International-Matex Tank Terminals, an airport services business, Atlantic Aviation, and entities comprising an energy services, production and distribution segment, MIC Hawaii.
- On July 7, 2019, Macquarie Infrastructure Corporation (“MIC”) closed on the sale of its partnership interest in Intersect Power, a leading utility scale solar project development company with 1.7 gigawatts (GW) of contracted solar projects and an additional 5 GWs of earlier stage projects under development, to SB Energy Global Holdings Ltd. (SB Energy), a subsidiary of SoftBank Group Corp.
- On October 31, 2019, SB Energy and Intersect Power announced that SB Energy will acquire the portfolio of five U.S. solar power plants with a combined capacity of more than 1.7 GWs from Intersect Power. SB Energy will build, own and operate the five solar power plants located in California and Texas, and expects to begin construction in early 2020.
Greentech Capital Advisors acted as exclusive financial advisor to MIC. The transaction further strengthens Greentech’s leading advisory position in the renewable energy sector and illustrates the global investor base seeking expansion and scale in renewable energy.