Energy Power Partners, a renewable energy-focused private market firm, has completed its acquisition of LES Project Holdings LLC from affiliates of Aria Energy.
LESPH consists of a portfolio of 16 operating landfill gas-to-energy projects in Michigan, New Jersey, Florida, California, Utah, North Carolina and Virginia, with a total of 90 megawatts of nameplate generating capacity. The projects sell renewable electricity to investment grade utilities under long-term contracts. The operating team managing the LESPH assets has transitioned to EPP’s operating affiliate, EPP Service Co. LLC, as part of the transaction.
“The LESPH assets strongly fit the investment strategy that we have pursued for the past decade, and complement our current portfolio of U.S. renewable projects,” said Henry Park, managing partner and co-founder of EPP. “We are excited to expand our asset base, as well as our operating team, and look forward to optimizing the portfolio as the sustainable energy transition advances.”
Comerica provided debt financing for the transaction. Rath, Young and Pignatelli served as EPP’s legal counsel, SCS Engineers served as EPP’s engineering advisor, and Cohn Reznick served as EPP’s tax advisor.