A joint venture of ClearGen LLC, a Blackstone Credit portfolio company that finances and owns sustainable energy infrastructure assets, and Goldman Sachs Asset Management (Goldman Sachs) has announced the acquisition of partnership interests in a 1.4GW (net) operating wind portfolio. The seller of the highly contracted portfolio, comprised of 25 wind farms located across the U.S., was MUFG.
CohnReznick Capital served as exclusive financial advisor to the buyers on the transaction.
“In a dynamic and growing renewables market, finding creative solutions is integral to our industry’s overall success,” said Conor McKenna, CohnReznick Capital Partner & Senior Managing Director. “Being a part of the market’s evolution, for the benefit of our clients and the industry, is a great privilege and opportunity.”
“The inherent complexity in such a large and diverse portfolio of assets presents challenges that the CohnReznick Capital team was uniquely qualified to address,” said Gary Durden, Partner & Managing Director, CohnReznick Capital. “We’re thrilled to have had the opportunity to help the ClearGen and Goldman Sachs teams close this important acquisition.”
“We sincerely enjoyed working with the CohnReznick Capital team,” said Rob Howard, ClearGen’s CEO. “ClearGen is extremely pleased with CRC’s support in the execution of this complex transaction.”
For the transaction press release, please click here.
ClearGen is empowering the transition to a more sustainable energy future. In partnership with Blackstone, ClearGen works with partners to support the energy transition by offering efficient and reliable capital solutions. By combining smart and flexible financing with unmatched industry expertise, ClearGen will lead the way to a new era of energy outcomes. At ClearGen, we bring capital to projects that deliver results and make the world a cleaner place. Visit www.clear-gen.com to learn more.
About Blackstone Credit and Sustainable Resources Platform
Blackstone Credit is one of the world’s largest credit-focused asset managers, with $230 billion in AUM. We seek to generate attractive risk-adjusted returns for our clients by investing across the entire corporate credit market, from public debt to private loans. Our capital supports a wide range of companies across sectors and geographies, enabling businesses to expand, invest, and navigate changing market environments. Blackstone Credit’s Sustainable Resources Platform is focused on investing in and lending to renewable energy companies and those supporting the energy transition and climate change solutions. Blackstone sees an opportunity to invest an estimated $100 billion in energy transition and climate change solutions over the next decade across its businesses.
About Goldman Sachs Asset Management
Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2 trillion in assets under supervision worldwide as of September 30, 2022. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time.