Capital Dynamics CEI, the clean energy infrastructure arm of Capital Dynamics, an asset management firm, and Hoosier Energy, a generation and transmission cooperative have signed power purchase agreements for 150 MW of solar power. The project construction is expected to begin in 2022 with commercial operation expected in 2023.
As per the agreement, Hoosier Energy will purchase solar power generated by the Ratts 2 Solar Project, a project owned by Capital Dynamics is currently being co-developed by Arevon Energy Management and Tenaska in Knox County, Indiana.
In October 2020, the Knox County Council unanimously approved the economic development agreement for the Ratts 2 Solar Project and issed a solar ordinance to guide certain technical aspects of the project. The project will pay $2.5 million to Knox County in economic development payments over a period of six years. According to an economic study conducted by Gnarly Tree Sustainability Institute, once the the Ratts 2 Solar Project is operational, it is estimated to contribute $20.9 million to the Knox County Gross Domestic Product during construction and $941,000 per year.
Earlier in 2020, Capital Dynamics entered into an agreement with LS Power to acquire three of the latter’s solar power projects. These three projects, with a combined capacity of 316 MW, are located in California, Arizona, and Delaware. They achieved commercial operations between 2011 and 2014 and are selling power under long-term power purchase agreements. Capital Dynamics is an independent global asset management firm focusing on private assets including private equity, private credit and clean energy infrastructure.