Franklin Park Investments Helps Lead Sammons Renewable Energy Acquisition of 194 MW Solar Project Portfolio
Vienna, Virginia — Franklin Park Investments (Franklin Park) today announced that it has helped lead the acquisition of a 194 MW portfolio of solar power plants on behalf of Sammons Renewable Energy (SRE), a wholly owned subsidiary of Sammons Infrastructure. Franklin Park manages renewable assets on behalf of SRE.
As part of the transaction, SRE is acquiring a 36-project portfolio of operating solar power plants with long-term energy contracts from Heelstone Energy. Franklin Park, pursuant to its management agreement with SRE, identified, structured, underwrote, and in conjunction with the SRE team closed the transaction on behalf of SRE. Franklin Park will manage the projects on behalf of SRE.
“Having assisted SRE in the acquisition of 397MWs of operating projects and 42MWs of development stage projects, we are pleased to continue our renewable energy management relationship with Sammons Renewable Energy,” commented Tom Tribone, the Chief Executive Officer for Franklin Park. “Our objective is to partner with top-tier development companies such as Heelstone. We are currently evaluating additional solar, wind and hydroelectric projects for investments and acquisitions.”
Akin Gump Strauss Hauer & Feld provided legal advice and Clean Energy Associates provided engineering advice to SRE as part of the transaction.
About Franklin Park
Franklin Park Investments, http://www.franklinparkinvestments.com, 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.
Franklin Park Contact
Name: Kevin Lapidus
Phone: 301-500-8660
Email: kevin.lapidus@frpark.com
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.
Source: globenewswire
