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Activate Renewables Closes on Purchase of More Than 115mw of Renewable Real Property Interests.

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Vincent

MANews-(C)2009-2022

US-based Activate Renewables, an acquirer of real estate and royalty interests in wind, solar and energy storage, has closed on the purchase of a portfolio of renewable ground leases from a fund managed by the Infrastructure Opportunities strategy of Ares Management, the company said.

The portfolio consists of wind and solar property leases together supporting more than 115 megawatts of power.

The portfolio has assets located across three states with long-term power purchase agreements with high-quality off takers. Terms of the deal were not disclosed.

Activate Renewables works with renewable energy developers across the US to help them enhance returns and improve capital efficiency by acquiring their land, lease or purchase options.

To date, Activate and its affiliates have acquired or signed agreements...

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