Guam Cleancapital Acquires Tender

Today CleanCapital announced the acquisition of a 36.6 megawatt MW solar facility in Inalhan Guam. The transaction with seller GlidePath Power Solutions LLC GlidePath includes the operating Dandan solar farm and rights to GlidePaths solar development pipeline on the island. In addition to expanding CleanCapitals portfolio to the U.S. territory of Guam the transaction signifies the companys largest single asset acquired to date. The 36.6 MW dc Dandan site which commenced commercial operations in October 2015 supplies renewable energy to the Guam Power Authority GPA. The project is the largest solar asset on Guam generating 6 of the islands electricity generation capacity. The site provides a reliable source of fixed-price clean energy to the surrounding community helping to offset the impact of volatile fossil fuel prices on the island. Future clean energy development on Guam is promising incentivized by the islands updated renewable power standard RPS. The RPS passed in 2019 requires that 50 of the nations power come from renewable sources by 2035 increasing to 100 by 2045. We are thrilled to be the new owner-operator of this significant project and to accelerate the exciting future of renewables on Guam said Julia Bell Chief Commercial Officer of CleanCapital. This acquisition affirms CleanCapitals commitment to making bold investments in the energy transition especially in regions like the Pacific Islands that are taking advantage of their natural resources to achieve independence from fossil fuels. I am proud of the work GlidePath did to improve the reliability and production of this critical solar asset and make it attractive to clean energy investors said Chris McKissack Chief Executive Officer of GlidePath. With this transaction we will transition the Dandan Solar Farm to CleanCapitals experienced team while accelerating GlidePaths ability to execute our pipeline of energy storage projects throughout the U.S.As one of the nations leading commercial solar asset owners CleanCapital is dedicated to accelerating the energy transition via strategic investments in middle-market solar and energy storage. To date CleanCapital has invested more than 900 million in projects and companies that align with its mission. This acquisition is the latest in a series of investments made since CleanCapital announced a 300 million commitment from Manulife in April 2021 in all the company has successfully acquired projects totaling more than 360 MW spanning 24 states and one U.S. territory. CleanCapital engaged KL Gates and Guam-based counsel Arthur Clark as Buyers counsel on this transaction. GlidePath was represented by Morgan Lewis Bockius LLP and Guam-based counsel Razzano Walsh Torres P.C. as Sellers counsel on this transaction.