Macquarie Infrastructure unit to acquire Utah solar power plant
Macquarie Infrastructure, through its MIC Renewable Energy Holdings subsidiary, has entered into an agreement to acquire the sponsor equity in the 80 megawatt Utah Red Hills solar power facility from Scatec Solar ASA. MREH did not disclose the terms of the transaction. Located in Iron County, Utah, the Utah Red Hills facility was completed in December 2015 and is expected to commence the 20 year power purchase agreement in December 2016. Power will be sold to PacifiCorp, a subsidiary of Berkshire Hathaway Energy serving 1.8M consumers across six states. The transaction is subject to approval by the Federal Energy Regulatory Commission, and other customary closing conditions, and is expected to close before the end of 2016.