Pillsbury Winthrop Shaw Pittman LLP advised Shikun & Binui on the deal.
Shikun & Binui (S&B) USA Energy announced its purchase from Capital Dynamics of 108MW in California of a solar portfolio consisting of two projects Beacon II (59.6 MWdc) and Beacon V (48.2 MWdc). TortoiseEcofin partnered with S&B on the purchase.
S&B USA Energy and TortoiseEcofin each acquired a 49.5% stake in the Beacon portfolio in Kern County, consisting of the Beacon II and Beacon V solar projects. Capital Dynamics said it will retain a 1% stake in the Beacon portfolio. Capital Dynamics acquired the Beacon projects from SunEdison in Q1 of 2016.
Both sites interconnect and sell power to the Los Angeles Department of Water and Power under two 25-year fixed rate Power Purchase Agreements.
Shikun & Binui, is a global infrastructure investor headquartered in Israel.
The Pillsbury team was led by Mona Dajani (Picture) and included tax partner Jorge Medina counsels Shellka Arora-Cox and Matthew Rabinowitz, and associates Christian Scarlett and Marissa Prieto.
Involved fees earner: Mona Dajani – Pillsbury Winthrop Shaw Pittman LLP; Jorge Medina – Pillsbury Winthrop Shaw Pittman LLP; Marissa Prieto – Pillsbury Winthrop Shaw Pittman LLP; Matthew Rabinowitz – Pillsbury Winthrop Shaw Pittman LLP; Christian Scarlett – Pillsbury Winthrop Shaw Pittman LLP;
Law Firms: Pillsbury Winthrop Shaw Pittman LLP;
Clients: Shikun & Binui Ltd;