Centaurus Renewable Energy, the renewables investment firm of Houston-based billionaire John Arnold, has found a buyer for Techren II, a Nevada solar project it bought last year, after arranging tax equity financing.
Global Atlantic Financial Co. will purchase the project, according to a July 26 filing with the U.S. Federal Energy Regulatory Commission.
M&T Bank, meanwhile, will provide tax equity when the 200 MW project in Clark County comes online, which is slated for this August.
The Techren II project has a 25-year power purchase agreement with NV Energy and Apple will purchase the generation from NV Energy through the utility’s NV GreenEnergy Rider program.
Whether the project also has debt financing in place could not be established.
Centaurus bought the project and its smaller sister—Techren I—from developer 174 Power Global in September of last year (PFR, 9/21/18).
The sale of Techren II to Global Atlantic is reminscent of the sale last year of Techren I to the same buyer. M&T provided half of the tax equity for the 100 MW project while U.S. Bank supplied the rest (PFR, 10/18/18).