GCM Grosvenor’s Infrastructure Advantage Strategy Acquires Equity Interest in Brookfield’s Shepherds Flat
GCM Grosvenor's Infrastructure Advantage Strategy has acquired a 25% equity interest in Shepherds Flat, North America's largest repowered wind farm, from Brookfield Asset Management and its partners. Shepherds Flat, located in Oregon, is a fully contracted 338-turbine wind farm with a nameplate capacity of 845 MW, producing over 2,000 GWh of electricity annually. The wind farm can power approximately 185,000 average U.S. households and is supported by a long-term utility contract.
Brookfield Renewable acquired Shepherds Flat in 2021 and performed a comprehensive repowering, increasing generation capacity and extending its lifespan. As part of the transaction, a Responsible Contractor Policy has been adopted for material construction work at the site. GCM Grosvenor views this as an opportunity to invest in a high-quality, sustainable infrastructure asset alongside an experienced operator in the Pacific Northwest energy market.
La Strategia di Vantaggio Infrastrutturale di GCM Grosvenor ha acquisito una partecipazione del 25% nel Shepherds Flat, il più grande parco eolico ristrutturato del Nord America, da Brookfield Asset Management e i suoi partner. Shepherds Flat, situato in Oregon, è un parco eolico dotato di 338 turbine completamente contrattualizzato con una capacità nominale di 845 MW, producendo oltre 2.000 GWh di elettricità all'anno. Il parco eolico può alimentare circa 185.000 famiglie americane medie ed è supportato da un contratto di fornitura a lungo termine.
Brookfield Renewable ha acquisito Shepherds Flat nel 2021 e ha effettuato una ristrutturazione completa, aumentando la capacità di produzione e prolungando la sua vita utile. Come parte della transazione, è stata adottata una Politica di Appaltatore Responsabile per i lavori di costruzione materiali sul sito. GCM Grosvenor considera questa come un'opportunità per investire in un asset infrastrutturale sostenibile e di alta qualità insieme a un operatore esperto nel mercato energetico del Pacifico nord-occidentale.
La Estrategia de Ventaja en Infraestructura de GCM Grosvenor ha adquirido una participación del 25% en Shepherds Flat, el parque eólico repotenciado más grande de América del Norte, de Brookfield Asset Management y sus socios. Shepherds Flat, ubicado en Oregón, es un parque eólico de 338 turbinas completamente contratado con una capacidad nominal de 845 MW, produciendo más de 2.000 GWh de electricidad anualmente. El parque eólico puede abastecer aproximadamente a 185.000 hogares promedio en EE. UU. y cuenta con un contrato de servicios públicos a largo plazo.
Brookfield Renewable adquirió Shepherds Flat en 2021 y realizó una repotenciación integral, aumentando la capacidad de generación y extendiendo su vida útil. Como parte de la transacción, se ha adoptado una Política de Contratistas Responsables para los trabajos de construcción material en el sitio. GCM Grosvenor ve esto como una oportunidad para invertir en un activo de infraestructura sostenible y de alta calidad junto a un operador experimentado en el mercado energético del noroeste del Pacífico.
GCM Grosvenor의 인프라 이점 전략은 Brookfield Asset Management 및 그 파트너로부터 Shepherds Flat, 북미에서 가장 큰 재구성이 완료된 풍력 발전소의 25% 지분을 인수했습니다. 오리건에 위치한 Shepherds Flat는 338개의 터빈을 갖춘 완전히 계약된 풍력 발전소입니다 이름 붙여진 용량이 845 MW이며 매년 2,000 GWh 이상의 전기를 생산합니다. 이 풍력 발전소는 약 185,000개의 평균 미국 가정을 전력 공급할 수 있으며 장기 유틸리티 계약으로 지원됩니다.
Brookfield Renewable은 2021년에 Shepherds Flat를 인수하고 발전 용량을 증가시키고 수명을 연장하는 종합적인 재구성을 수행했습니다. 거래의 일환으로 건설 자재 작업에 대해 책임 있는 계약자 정책이 채택되었습니다. GCM Grosvenor는 이를 태평양 북서부 에너지 시장에서 경험이 풍부한 운영자와 함께 고품질 지속 가능한 인프라 자산에 투자할 수 있는 기회로 보고 있습니다.
La stratégie d'avantage infrastructurel de GCM Grosvenor a acquis une participation de 25% dans Shepherds Flat, le plus grand parc éolien repouvé d'Amérique du Nord, auprès de Brookfield Asset Management et de ses partenaires. Shepherds Flat, situé en Oregon, est un parc éolien entièrement contracté de 338 turbines avec une capacité nominale de 845 MW, produisant plus de 2 000 GWh d'électricité par an. Le parc éolien peut alimenter environ 185 000 foyers américains moyens et est soutenu par un contrat d'utilité à long terme.
Brookfield Renewable a acquis Shepherds Flat en 2021 et a effectué une repowering complète, augmentant la capacité de génération et prolongeant sa durée de vie. Dans le cadre de la transaction, une politique de contractant responsable a été adoptée pour les travaux de construction de matériaux sur le site. GCM Grosvenor considère cela comme une occasion d'investir dans un actif d'infrastructure durable et de haute qualité aux côtés d'un opérateur expérimenté sur le marché de l'énergie du nord-ouest du Pacifique.
Die Infrastruktur-Vorteilsstrategie von GCM Grosvenor hat 25% der Eigenkapitalbeteiligung an Shepherds Flat, dem größten repowering Windpark in Nordamerika, von Brookfield Asset Management und seinen Partnern erworben. Shepherds Flat, das sich in Oregon befindet, ist ein vollständig vertraglich gebundener Windpark mit 338 Turbinen und einer Nennleistung von 845 MW, das jährlich über 2.000 GWh Strom produziert. Der Windpark kann etwa 185.000 durchschnittliche Haushalte in den USA mit Strom versorgen und wird durch einen langfristigen Versorgungsvertrag unterstützt.
Brookfield Renewable übernahm Shepherds Flat im Jahr 2021 und führte eine umfassende Repowering durch, wodurch die Erzeugungskapazität gesteigert und die Lebensdauer verlängert wurde. Im Rahmen der Transaktion wurde eine Richtlinie für verantwortungsbewusste Auftragnehmer für Materialbauarbeiten am Standort verabschiedet. GCM Grosvenor betrachtet dies als eine Gelegenheit, in einen hochwertigen, nachhaltigen Infrastrukturwert neben einem erfahrenen Betreiber im Energiemarkt des pazifischen Nordwestens zu investieren.
- Acquisition of a 25% equity stake in North America's largest repowered wind farm
- Investment in a fully contracted renewable energy asset with 845 MW capacity
- Long-term utility contract supporting the wind farm's operations
- Partnership with experienced operator Brookfield Renewable
- Adoption of Responsible Contractor Policy for future construction work
- None.
Insights
GCM Grosvenor's acquisition of a
Key points to consider:
- The wind farm's annual production of over 2,000 GWh demonstrates its scale and efficiency.
- A long-term contract with a large-scale utility provides stable, predictable cash flows.
- The recent repowering has increased generation capacity and extended the asset's lifespan, enhancing its long-term value proposition.
- The adoption of a Responsible Contractor Policy aligns with ESG considerations, potentially attracting socially conscious investors.
While the financial terms weren't disclosed, this strategic acquisition likely provides GCM Grosvenor with a steady income stream and exposure to the growing renewable energy market. For investors, this move signals the company's commitment to expanding its infrastructure portfolio with high-quality, sustainable assets.
The acquisition of a stake in Shepherds Flat is a shrewd move by GCM Grosvenor, tapping into the burgeoning renewable energy market. This wind farm's impressive 845 MW nameplate capacity places it among the largest in North America, offering significant scale advantages.
The recent repowering is a important aspect to consider. It not only boosted generation capacity but also extended the asset's operational life, potentially providing decades of reliable energy production. This enhancement aligns with the industry trend of optimizing existing wind farms to improve efficiency and longevity.
The Pacific Northwest location is strategic, given the region's favorable wind conditions and growing demand for clean energy. With the capacity to power approximately 185,000 average U.S. households, Shepherds Flat contributes substantially to the area's renewable energy mix, positioning GCM Grosvenor well in the evolving energy landscape.
CHICAGO, Sept. 24, 2024 (GLOBE NEWSWIRE) -- GCM Grosvenor (NASDAQ: GCMG), a leading global alternative asset management firm, today announced that its Infrastructure Advantage Strategy has acquired a
Shepherds Flat, located in north central Oregon, is a fully contracted 338-turbine wind farm with a nameplate capacity of 845 MW. The wind farm produces in excess of 2,000 GWh of electricity annually, which is enough to power ~185,000 average U.S. households and is fully supported by a long-term contract with a large-scale utility.
"We believe Shepherds Flat presents a rare opportunity to invest in a high-quality, hard-to-replicate, sustainable infrastructure asset alongside an experienced owner, operator, and developer of clean power," said GCM Grosvenor Managing Director Matt Rinklin. "The Infrastructure Advantage Strategy is pleased to invest in contracted renewable power generation in the Pacific Northwest energy market. We are confident we can deliver long-term value to our investors through this strategic acquisition."
Brookfield Renewable, a global platform for renewable power and decarbonization solutions, acquired Shepherds Flat in 2021. A comprehensive repowering which materially increased the wind farm’s generation capacity was performed under Brookfield Renewable’s ownership, enhancing the plant’s operational efficiency and substantially extending its lifespan.
“We are excited to partner with GCM Grosvenor while maintaining exposure to this high-quality asset that provides essential clean energy to customers throughout the Pacific Northwest. We continue to see opportunities to further enhance value at Shepherds Flat and are thrilled to be working with GCM,” said Jeh Vevaina, Managing Partner, Brookfield Asset Management.
GCM Grosvenor’s investment in Shepherds Flat was completed through its Infrastructure Advantage Strategy, which seeks to generate high-quality risk adjusted returns through alignment with key stakeholders, including union labor. As part of the transaction, the Shepherds Flat partnership has adopted a Responsible Contractor Policy which will apply to any material construction work at the site.
Thorndike Landing LLC acted as financial advisor and Kirkland & Ellis LLP acted as legal advisor on the transaction for GCM Grosvenor. BMO and Wells Fargo acted as financial advisor and King & Spalding LLP acted as legal advisor on the transaction for Brookfield.
About GCM Grosvenor
GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset management solutions provider with approximately
About Brookfield Asset Management
Brookfield Asset Management Ltd. (NYSE: BAM, TSX: BAM) is a leading global alternative asset manager with approximately
Brookfield operates Brookfield Renewable Partners (NYSE: BEP, TSX: BEP), one of the world’s largest publicly traded platforms for renewable power and sustainable solutions. Our renewable power portfolio totals over 34,000 megawatts and our development pipeline stands at approximately 200,000 megawatts. Our portfolio of sustainable solutions assets includes our investments in Westinghouse (a leading global nuclear services business) and a utility and independent power producer with operations in the Caribbean and Latin America, as well as both operating assets and a development pipeline of carbon capture and storage capacity, agricultural renewable natural gas and materials recycling.
Media Contacts:
GCM Grosvenor
Tom Johnson and Abigail Ruck
H/Advisors Abernathy on behalf of GCM Grosvenor
tom.johnson@h-advisors.global / abigail.ruck@h-advisors.global
212-371-5999
Brookfield
Simon Maine
Managing Director – Communications
+44 (0)7398 909 278
simon.maine@brookfield.com
FAQ
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