KOMIPO America, Inc., the U.S. subsidiary of Korea Midland Power Co., Ltd. (“KOMIPO”), one of Korea’s largest utility and power producers, has successfully closed a tax equity investment from Morgan Stanley Renewables Inc. for Project Elara – a 130MW solar project located in Frio County, Texas. Currently under construction, the project is contracted with two high-quality, long-term offtakers and is expected to reach commercial operation in 2021.
CohnReznick Capital acted as exclusive financial advisor to KOMIPO America, Inc. on the transaction, managing the tax equity process.
Britta von Oesen, CohnReznick Capital Managing Director, said, “KOMIPO is a global leader in the operation of solar power, and this groundbreaking deal decisively positions them to achieve scale as a new entrant to the U.S. market.”
Counsel for the tax equity transaction included White & Case LLP as counsel to KOMIPO America, Inc. and Mayer Brown LLP as counsel to Morgan Stanley Renewables Inc.
For additional details on this transaction, please contact Britta von Oesen.
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