FIH Partners advises AIP Management on the acquisition and diligence of a 35% equity stake and 130m term loan in Project Escalade

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.