CohnReznick Capital Advises Samsung on Sale of 50.5MW Central 40 Project
CS Solar, a joint venture between Samsung Solar Energy (“Samsung”) and Coldwell Solar, has sold 100% of the 50.5MW Central 40 Project to Solar Frontier Americas (“Solar Frontier”), a leading US-based solar project developer and independent power producer. The project is located in Stanislaus County, CA and will sell power to the City of Santa Clara under a 20-year contract.
Samsung is a leading project developer specializing in renewable energy and infrastructure, with 1.1GW of wind and 589MW of solar globally. The acquisition of this project represents another significant milestone for Solar Frontier Americas, after the successful procurement of the 210MW Mustang II solar project in California and the 110MW Pioneer Solar project in Colorado.
CohnReznick Capital was the exclusive financial advisor to Samsung on the transaction.
“We are thrilled to support Samsung, a premier global organization, in its continued efforts to develop high-quality solar projects in the US,” said Frank Palladino, Managing Director at CohnReznick Capital.
For additional details on this transaction, please contact:
About Samsung Renewable Energy
Samsung Renewable Energy Inc, a subsidiary of Samsung C&T Corporation’s Trading and Investment Group, is a leading developer specializing in renewable energy and infrastructure serving utilities, industry and communities. The company maintains global renewable energy development of 1.1GW wind and 589MW of solar. SRE formed a joint venture with Coldwell Solar in 2016 and has since developed four solar projects of 62MW in nameplate capacity with significant development ongoing.
About Solar Frontier Americas
Solar Frontier Americas, a U.S. based subsidiary of Idemitsu Kosan Co., Ltd (a global energy solutions company), is a growing independent power producer, solar developer and module supplier. The vertically-integrated energy company acquires, develops, owns and operates high yield utility-scale solar power generation plants; selling the clean energy to help communities both economically and ecologically live in healthier environments. With offices in California and Nevada, SFA continues to develop its growing pipeline of over 1 GW of utility-scale projects. Part of a longstanding organization recognized internationally for their dedication to excellence in quality and service, SFA continues that tradition in their North American renewable energy business.