Global alternative asset manager The Carlyle Group is acquiring a 612 MW operating wind power portfolio, along with a dedicated operations platform, in New York State from Noble Environmental Power.
Carlyle is acquiring the assets through its newly established affiliate Zephyr Wind Energy. The portfolio comprises six wind farms located in northern and western New York:
- Three wind farms in Clinton County totaling 279 MW;
- Two wind farms in Wyoming County totaling 227 MW; and
- One 106 MW wind farm in Franklin County.
The portfolio currently produces 29% of New York State’s wind power, says Carlyle.
“We are excited to acquire this platform, which brings important diversification to the Carlyle Power Partners portfolio,” comments Matt O’Connor, Carlyle’s managing director and head of Carlyle Power Partners. “Zephyr is our first wind investment and provides an opportunity to help New York State meet its clean energy goals. Additionally, the Noble operations platform we are acquiring has a history of strong operations, engineering innovation and community relations, which go hand-in-hand with our goal of providing best-in-class management to power generation facilities.”
When the acquisition of the Noble platform is completed, the total power generation portfolio of Carlyle Power Partners will increase to approximately 7,000 MW (net). Equity capital for the transaction will come from Carlyle Power Partners II LP.
The deal is subject to customary conditions, including regulatory approvals, and is expected to close in the fourth quarter. Financial terms of the transaction were not disclosed.
