Ares buys 80% stake in 384 MW U.S. solar-storage portfolio
Ares Management said an Ares Infrastructure Equity fund acquired an 80% stake in a 384 MW solar and storage portfolio in the U.S. from EDP Renewables.
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05:37:38 PM UTC
SquawkNews
Ares acquired an 80% stake in a 384 MW California solar and battery portfolio from EDPR, implying ~$0.8B enterprise value for 100% at start of operations. The 200 MW solar has a 20-year PPA; 184 MW storage has a 20-year capacity tolling deal.Material DetailsContext by AI AnalystThis extends Ares’ b…
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