05Feb
By: CohnReznick Capital On: February 5, 2019 In: In The News, Press Releases Comments: 0

Onyx Renewable Partners (“Onyx”), a developer, owner and operator of distributed generation (“DG”) solar assets, announced the sale of its sponsor equity interest in a 114MW DG solar portfolio to funds managed by Argo Infrastructure Partners (“Argo”).

Comprising multiple tax equity facilities, the portfolio represents the first major structured equity sale for Onyx, and is a bellwether transaction for the aggregation, financing and sale of sponsor equity interests in a highly diversified DG solar portfolio in a still-maturing market. The transaction represents Argo’s initial investment in DG solar and includes a portfolio of fully contracted, operating assets with a remaining weighted average contracted life of 20+ years.

CohnReznick Capital acted as a financial advisor to Onyx in connection with the transaction.

“We are very excited to support Onyx, a leader in C&I, on the successful execution of their vision and in the further growth of the distributed generation market,” said Conor McKenna, Senior Managing Director.

For additional details on this transaction, please contact:

Conor McKenna
Senior Managing Director
conor.mckenna@cohnreznickcapital.com

About Onyx Renewable Partners

Onyx is a renewable energy development company established by funds managed by Blackstone Energy Partners that is focused on greenfield development in the North American solar and wind sectors. The Onyx team brings over 250 years of collective industry experience and perspective, having developed more than 9 GW of renewable projects. As a full-service firm with capabilities including development and construction through financing and operations, Onyx is able to provide creative solutions to large energy users and land owners in North America. Onyx prides itself on its ability to bring together exceptional talent with deep industry knowledge to solve challenging issues for customers looking to maximize renewable power generation. Onyx is headquartered in New York City.

About Us

At CohnReznick Capital, we provide superior investment banking services to the sustainability sector. Since 2008, we have executed more than 125 project and corporate transactions for renewable energy assets valued at over $19 billion in aggregate. As the #1 ranked Renewable Energy Financial Adviser by IJ Global Magazine, we deliver exceptional services for financial institutions, infrastructure funds, strategic participants (IPPs and utilities), and leading global clean energy developers. Our team of experts help our clients break through the dynamic and evolving sustainability sector by simplifying project finance, M&A, capital raising and special situations. To learn more, please visit https://www.cohnreznickcapital.com, follow @CR_Capital on Twitter, and connect with us on LinkedIn.