Scout exploring minority equity sale of 1 GW operational and under construction renewable portfolio

Scout Clean Energy is exploring a sell down of minority equity interest in a 1 GW portfolio of operating and under construction wind and solar assets, said sources familiar with the situation.

The process is at an early stage.

The Boulder, Colorado-based developer, a portfolio company of Brookfield Renewable, has a 19 GW pipeline, including 2.3 GW of late-stage assets, according to a press release. The assets that Scout is exploring selling a minority equity stake in includes one operating wind farm apiece in both PJM Interconnection and the Southwest Power Pool (SPP). Also included is a solar farm under construction in ERCOT.

Even with interest rates still considered high, there have been successful foreign bids announced in recent weeks as larger IPPs look to raise asset sale proceeds to re-invest in their existing pipeline. This includes Plentitude buying an 80% stake in a portfolio of solar PV plants from EDP Renewables North America and Apex Clean Energy selling a 75% stake in a 317 MW operating portfolio to ERG.

At the same time, increasing queue backlogs have also made wind repowering an attractive opportunity as illustrated by Exus Management Partners’ recent purchases of operating wind farms in Pennsylvania, and Leeward Renewable Energy completing a repowering of its 80 MW GSG Wind facility in Illinois.

Scout declined to comment on the situation.

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