CohnReznick Capital Markets Advises sPower and FLS Energy on 63.1MW Solar Portfolio

63.1 MW-dc Portfolio, made up of 16 separate North Carolina-based assets, to sell energy to Duke Energy Carolinas and Duke Energy Progress.

NEW YORK--()--CohnReznick Capital Markets Securities (CRCMS), a leading boutique investment banking services firm in the renewable energy industry, announces the equity interest purchase by sPower, a prominent renewable energy provider, of three separate solar portfolios from FLS Energy, in one of the industry’s largest and most complex sales of existing assets.

CRCMS advised on the investment in the portfolio, named sPower FLS North Carolina Solar 1, that includes 16 total fixed tilt ground mount facilities. The North Carolina-based portfolio has 15-year PPAs with Duke Energy Carolinas and Duke Energy Progress and achieved commercial operation in 2013 and 2014.

“We were thrilled to be part of this partnership between sPower and FLS Energy; one that we are confident will yield ongoing success for both parties,” said Conor McKenna, CRCMS Managing Director. “Most importantly, we are proud to contribute to the significant growth this deal will bring to the east coast’s solar industry.”

CohnReznick Capital Markets Securities (CRCMS)
CRCMS offers a comprehensive financial advisory platform for the renewable energy industry, providing solutions for tax equity, equity, debt, asset sales or purchases. The company represents financial institutions, infrastructure funds, strategic participants (IPPs and utilities) and more than 60 wind, solar, biomass and other alternative energy developers nationwide.

To date, CRCMS has led the financing of over 880 MW in solar, wind and biomass projects and has placed tax equity financing for over $3 billion in assets. CRCMS has successfully executed sale placements and asset sales for 250 MW of solar and 90 MW of wind.

For more information, please visit: www.cohnreznickcapmarkets.com/

Contacts

For CRCMS
Kristen Cullen, 617-391-9622
kcullen@rasky.com

Release Summary

CohnReznick Capital Markets Securities (CRCMS) announces the equity interest purchase by sPower, a prominent renewable energy provider, of three separate solar portfolios from FLS Energy.

Contacts

For CRCMS
Kristen Cullen, 617-391-9622
kcullen@rasky.com