Rubicon Capital Advisors Advises BayWa r.e. Wind LLC on both the sale of its cash equity interest to Fengate and the funding of the tax equity transaction.
Rubicon Capital Advisors Advises BayWa r.e. Wind LLC on both the sale of its cash equity interest to Fengate and the funding of the tax equity transaction.
Press Release
New York, NY – December 22, 2020 – Rubicon Capital Advisors (“Rubicon”) is pleased to announce that BayWa r.e. Wind LLC (“BayWa r.e.”) completed the sale of a majority stake in its 250MW Amadeus Wind Farm to Fengate Asset Management (“Fengate”).
The transaction closed simultaneous with the tax equity funding and construction completion. Rubicon acted as the exclusive financial advisor to BayWa r.e. on both the cash equity and the tax equity transaction.
The Amadeus transaction capped off a busy year for Rubicon’s renewable energy activities whereby the firm has sold or raised financing for over 1GW of wind, solar and alternative energy projects spread across North America and Europe.
“We thank the Rubicon team for their hard dedicated support over the past months and are looking forward to work with them on our next transaction in California,” said Florian Zerhusen, CEO of BayWa r.e. Wind LLC.
“Reaching this critical milestone required close co-ordination by Rubicon across multiple stakeholders and notwithstanding the unprecedented challenges posed by COVID-19. Rubicon congratulates all of the parties on the financial close of this important transaction and is honored to have worked closely alongside the BayWa r.e. team”, said Jatin Gupta, Managing Director, New York Office, Rubicon.
The Amadeus project is located northwest of Abilene in Rotan and will generate enough clean, renewable energy to meet the electricity needs of more than 74,800 homes annually. Amadeus consists of 96 GE wind turbines deployed across nearly 25,000 acres of federal, state and privately held lands and is the largest onshore wind project completed to date in BayWa r.e.’s global portfolio.
The transaction brought together some of the leading names in the sector alongside BayWa r.e. and Fengate, including BHE Renewables (a unit of Berkshire Hathaway) for the tax equity, Commerzbank for the project financing and Morgan Stanley who is purchasing the energy under a 10-year hedge agreement.
Following the closing of the transaction, BayWa r.e. will continue to manage the Amadeus Wind Farm.
About Rubicon Capital Advisors
Rubicon is one of the world’s leading investment banking firms focused solely on the infrastructure, energy & utilities sectors. With offices in Europe, the Americas and Asia the firm has a truly global reach. Since inception in 2011, Rubicon has closed on the sale, acquisition or refinancing of over 100 essential infrastructure, energy & utilities assets located across Europe, North America, Latin America and Asia with a combined enterprise value in excess of USD $60 billion. The firm is regulated by the Central Bank of Ireland and its U.S. affiliate is a member of FINRA and SIPC and registered as a broker-dealer with the SEC. Learn more about the firm at: www.rubiconcapitaladvisors.com and by following Rubicon Capital Advisors on LinkedIn and Twitter.
About the BayWa renewable energy GmbH (BayWa r.e.)
Across solar and wind, at BayWa r.e. we r.e. think energy – how it is produced, stored and best used. We are a leading global developer, service supplier, distributor and energy solutions provider. We deliver renewable energy solutions worldwide, and have brought over 3.5 GW of energy online, while managing 8.5 GW of assets. We are part of the BayWa Group, a business with revenues of $19.1 billion. Every day we are working hard to find new solutions, push technological boundaries and actively shape the future of energy, and taking a stand against climate change. Our wind company, BayWa r.e. Wind LLC, based in Carlsbad, CA, has been an experienced developer and asset manager of wind farms in the U.S. since 2001 and can be reached at media.americas@baywa-re.com.
For additional media inquiries, contact:
David Fitzgerald
T: +353 1 906 0657
E: david.fitzgerald@rubiconcapitaladvisors.com