June 1, 2021

CohnReznick Capital Advises Capital Dynamics on 49% Equity Sale of 100MW / 400MWh CAISO Standalone Battery Storage Project

Global private asset management firm Capital Dynamics, via its affiliated entity Eagle Rock Partners, has agreed to sell 49% of its equity interest in Project Saticoy, a 100MW / 400MWh standalone battery storage project located in Oxnard, California.  The buyer is Shikun & Binui, a global infrastructure and real estate corporation headquartered in Israel.

One of the largest battery storage projects in the U.S., Saticoy reached COD in April 2021 and stands ready to provide vital capacity and reliability to California’s grid during periods of high demand.

CohnReznick Capital served as exclusive financial advisor to Capital Dynamics on the transaction.

Conor McKenna, CohnReznick Capital Senior Managing Director, said, “Battery storage projects like Saticoy enable California’s energy transition by balancing the deployment of renewable energy and electrification. We see this market continuing to grow, spurring broader opportunities in the power sector. CohnReznick Capital is pleased to support this transaction by facilitating the partnership of these two great companies and creating significant value for stakeholders and energy consumers alike.”

For additional details on this transaction, please contact Conor McKenna, Senior Managing Director.

For the original press release, please click here.

About Capital Dynamics
Capital Dynamics is an independent global asset management firm focusing on private assets including private equity, private credit and clean energy infrastructure. Capital Dynamics’ Clean Energy Infrastructure is one of the largest renewable energy investment managers in the world with USD 6.6 billion AUM and has one of the longest track records in the industry. The CEI strategy was established to capture attractive investment opportunities in the largest and fastest-growing sector of global infrastructure – proven renewable energy technologies, primarily in North America and Europe, across solar, onshore wind, energy storage and related infrastructure with a focus on both utility-scale and distributed generation technologies. The CEI platform’s fully-integrated asset management affiliate provides highly-specialized services to ensure optimal performance and value from projects. The CEI strategy currently manages 7.9 GWdc of contracted gross power generation across more than 150 projects in the United States and Europe, and is one of the top 3 global solar PV owners. Since the CEI platform’s inception in 2010, over 17 million metric tons of greenhouse gas emissions have been avoided as a result of the firm’s renewable investments. This is equivalent to the power needed to supply more than 3 million homes or passenger vehicles for one year. In 2020, the CEI strategy received top rankings from GRESB (the ESG benchmark for real assets) for commitment to sustainability, and in 2019 was awarded Global PE Energy Firm of the Year by Private Equity International. For more information, please visit: www.capdyn.com.