FIH Partners advises AIP Management on the acquisition of a 35% equity stake and USD 130m term loan to the Escalade wind farm (Texas, US) developed by Taaleri Energia

Acquisition of equity stake and term loan for 336MW wind farm in Texas, US
Transaction:
Acquisitions
Date:
Jun 2020
Deal Value:
Undisclosed
Process:
Private process
Industry:
Energy and Infrastructure

FIH Partners advised AIP Management on the acquisition and diligence of a co-investment in Project Escalade.

AIP’s investment will take the form of a 35% equity stake and a USD 130m term loan commitment on behalf of the Danish pension funds PKA and PenSam. The project developer and seller is the Helsinki-based developer Taaleri Energia, who together with Taaleri SolarWind II, Ilmarinen and Akuo Energy will retain the remaining ownership of the project. A tax equity and bridge loan commitment closed in parallel to AIP’s investment.

Project Escalade is a 336MW construction-stage wind farm located in Knox County, Texas developed by Taaleri Energia. Vestas will supply the project with 20 V150-4.2MW and 45 V162-5.6MW turbines. The project is expected to reach COD in November 2021.

FIH Partners acted as exclusive financial advisor to AIP Management.