Google Cloud and Liberty Global Forge Strategic AI Partnership to Transform European Telecom Services 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
NRW Holdings Shares Surge After Securing Major Rio Tinto Contract and New Project Wins 
Boeing Signals Progress on Delayed 777X Program With Planned April First Flight 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
CK Hutchison Unit Launches Arbitration Against Panama Over Port Concessions Ruling 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Qantas to Sell Jetstar Japan Stake as It Refocuses on Core Australian Operations 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
Dallas, TX, Aug. 23, 2017 -- Sammons Renewable Energy (SRE), a wholly owned subsidiary of Sammons Infrastructure, today announced the acquisition of a 194MW portfolio of solar power plants from Heelstone Energy. As part of the transaction, SRE acquired a 36-project portfolio of operating solar power plants with long-term energy contracts.
|
|||
“We are pleased to continue the expansion of our portfolio of renewable energy projects with the acquisition of these Heelstone solar assets. Our goal is to grow SRE into a leading renewable energy asset investor, developer, and owner,” said Heather Kreager, Chief Executive Officer of Sammons Enterprises, the parent company of Sammons Infrastructure. “Heelstone represents the type of leading development partner SRE will continue to work with as we grow our business.”
Will Owens, Member of the Board of Managers and Managing Director of Heelstone, said, “We are confident that this solar portfolio has found an ideal long-term home with SRE. Heelstone and SRE worked together to structure this transaction to bring benefit to both companies as they continue on their respective paths to future growth and success.”
The plants included in the portfolio produce enough electricity to power 26,400 average homes and to displace CO2 annual emissions in an amount equivalent to removing 42,500 cars from the road each year.
“The transaction with Heelstone is another step forward in helping SRE become a leading investor in the North American renewable energy market. We look forward to continuing our support of SRE,” commented Tom Tribone, the Chief Executive Officer for Franklin Park. Franklin Park manages the renewable assets for SRE.
Akin Gump Strauss Hauer & Feld provided legal advice, Clean Energy Associates provided engineering advice to SRE, and Marathon Capital advised Heelstone Energy on the sale of the portfolio.
About Sammons Renewable Energy
Sammons Renewable Energy invests in and develops renewable energy projects in the U.S., Canada, and Mexico. The company identifies solar, wind and hydro related development opportunities over a minimum threshold of $40 million in value. Sammons Renewable Energy is a wholly owned subsidiary of Sammons Infrastructure, a Sammons Enterprises, Inc. company. Assets owned by Sammons Renewable Energy are managed by Franklin Park Investments.
About Heelstone Energy
Heelstone Energy is a leading independent power producer and solar developer with expertise across the downstream solar value chain. Heelstone has proven capabilities to source, finance, build and operate high-quality solar assets.
About Franklin Park Investments
Franklin Park Investments provides energy and infrastructure services in major global markets, including North and South America, Europe and Asia. Franklin Park’s activities include conventional and renewable electricity generation, electric distribution, rail and road transport and supply chain logistics.
Attachments:
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/04865ff2-6c64-4618-b304-56d55003adf9
Christine Anderson Sammons Enterprises, Inc. 214.210.5064 [email protected]
