Activate Renewables Purchases Renewable Real Estate Portfolio from Alchemy

Source: www.gulfoilandgas.com 11/29/2022, Location: North America

Activate Renewables, a leading acquirer of real estate and royalty interests in wind, solar and energy storage, is pleased to announce it recently closed on the purchase of a renewable energy real estate portfolio owned by Alchemy Renewable Energy.

The portfolio consists of the real estate related to five solar projects located across North Carolina and Texas. Terms of the deal were not disclosed.

“We are pleased to support Alchemy’s business goals with this initial transaction,” said Maria Klutey, president of Activate Renewables. “We look forward to a continued relationship, whereby Alchemy can enhance its capital efficiency by selling real estate interests to Activate.”

Activate works with developers to purchase land, leases or purchase options associated with high quality renewable projects. Activate is funded by D.E. Shaw Renewable Investments (DESRI), with permanent capital that is lower in cost than equity and comes without the restrictions of debt.

“By separating the cost of the land, Activate was able to assist us with improving both our returns and tax efficiency on this project,” said Lacie Clark, chief executive officer of Alchemy Renewable Energy. “We look forward to working with Maria and her team in the future to help us optimize our economics by financing the real estate separately from the project itself.”

Activate’s industry-leading purchase process supports the goals of developers, while providing excellent customer service to individual landowners involved in large-scale solar and wind projects. To date, Activate and its affiliates have acquired or signed agreements to fund acquisitions totaling more than 8,800 solar acres and 62 wind turbines directly supporting more than 2.8 gigawatts of existing or planned renewable power generation across 20 states.


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