Renewable Energy Trust Capital Inc. (RET Capital) completed the acquisition of the 102MW Coram Wind Project from BAIF U.S. Renewable Power Holdings LLC. The plant is located in Kern County, California, and 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.
“RET Capital is pleased to own this large, high-quality asset to anchor its wind portfolio and strategy, and looks forward to growing its business through additional acquisitions of similar wind projects in North America and new markets,” said John A. Bohn, chief executive officer and chairman of RET Capital.
Just last month, RET Capital announced the close of CAD $66MM of non-recourse debt to support the acquisition of the CityLights solar facility from Canadian Solar Inc. in Ontario, Canada. With this new acquisition, RET Capital’s total renewable energy portfolio tops 200 MW, helping strengthen RET Capital’s renewable business in North America.
RET Capital, 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 billion of assets under management and offices in New York and London.