Greentech Advises Tradewind on Solar and Energy Storage Platform Sale
March 27, 2019
Headquartered in Lenexa, Kansas, Tradewind Energy (“Tradewind”) is one of the largest wind and solar project development companies in the U.S. Since its inception in 2003, Tradewind has developed and sold solar PV and wind projects representing ~$5.6bn of total investment and has over 13 GW of wind, solar and storage pipeline projects under development.
- On March 27, 2019, Enel Green Power (“Enel”) announced the closing of its acquisition of the entire Tradewind platform, including 13 GW of wind, solar and storage projects located throughout the U.S.
- Shortly after the closing of Enel’s purchase of Tradewind, Enel signed a definitive agreement with Macquarie Group’s Green Investment Group (“GIG”) to sell the U.S. solar and energy storage unit of Tradewind, a subsidiary of Enel Green Power North America, named Savion, LLC (“Savion”)
- Savion is an integrated U.S. solar and energy storage development platform with industry-leading enterprise and site evaluation systems. Its project portfolio includes a 6 GW pipeline of solar and energy storage development projects
- Upon closing, Savion will be managed by former Tradewind principals Rob Freeman and Geoff Coventry
The transaction press release can be found at:
Greentech Capital Advisors acted as exclusive financial advisor to Tradewind on the sale of Savion. The transaction further strengthens Greentech’s leading advisory position in the renewable energy and energy storage sectors.
“The U.S. solar market presents a very attractive investment opportunity and we see strong fundamentals driving future growth. The commitment we announce today is a continuation of GIG’s strategy in U.S. utility scale solar,” said Chris Archer, Head of Green Energy Americas for Macquarie Capital. “Tradewind’s seasoned team of specialists have built a leading solar and storage development platform that we expect to thrive in partnership with GIG.”