Landmark Infrastructure Partners acquires $73 million in land under four Recurrent Energy solar projects
Written By: Stratton Report
November 2, 2016
On November 2, Landmark Infrastructure Partners LP, a subsidiary of Landmark Dividend LLC, announced that it has acquired approximately 4,000 acres of land in California underneath four utility-scale solar PV projects developed by Recurrent Energy, a subsidiary of Canadian Solar Inc. Total consideration was approximately $73 million.
Alex Stone, head of Landmark Dividend’s renewable energy group noted:
“Landmark Infrastructure is thrilled to partner with Recurrent Energy on this land portfolio, which houses solar projects that are expected to deliver clean power to more than 100,000 California homes. With the closing of this transaction Landmark Dividend and its subsidiaries, including Landmark Infrastructure, lease land interests to over 1GW of renewable energy projects, including solar, wind, transmission and battery storage facilities.”
See Stratton Report’s interview with Alex Stone
Landmark Dividend provides real estate solutions for its renewable energy lessees. According to the firm, it its subsidiaries have provided funding for more than 60 land assets underneath renewable energy projects.
George Doyle, Chief Financial Officer for Landmark Dividend and Landmark Infrastructure observed: “The Recurrent Energy land acquisition is a great addition to Landmark Infrastructure’s existing portfolio of renewable energy assets with the project entities holding long-term power purchase agreements from high quality utilities. This transaction reinforces Landmark Dividend’s commitment to the renewable energy sector.”