Greentech Advises Macquarie Infrastructure Corporation on the Sale of its Operating Renewables Businesses
April 5, 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 April 4, 2019, Macquarie Infrastructure Corporation (“MIC”) announced the sales of its wind and solar power generation assets for $215mm in aggregate gross proceeds
- Under the agreements, MIC, acting through its subsidiaries, will sell its 203 MW (gross) portfolio of wind generation assets to DIF Infrastructure V, a fund managed by DIF, a global infrastructure fund management company, and its 142 MW portfolio of solar power generation assets to Goldman Sachs Renewable Power LLC
- The transactions are expected to close progressively throughout 2019, subject to receipt of regulatory approvals and consents
The transaction press release can be found at:
Greentech Capital Advisors acted as exclusive financial advisor to MIC. The transaction further strengthens Greentech’s leading advisory position in the renewable energy sector.
“With the signing of these agreements we have reached another important milestone in our efforts to streamline our portfolio and realize investments in certain smaller and non-core businesses,” said Christopher Frost, Chief Executive Officer of MIC. “At the same time we have delivered an attractive risk-adjusted return to our shareholders and expect to use the proceeds from these sales to fund a portion of our investment in the growth of our remaining businesses.”