GCM Grosvenor has acquired a 25% stake in Brookfield Asset Management’s Shepherds Flat wind farm in the US for an undisclosed sum.
GCM Grosvenor said it has acquired the equity interest through its infrastructure advantage strategy from Brookfield and institutional partners, including its listed affiliate Brookfield Renewable.
The Shepherds Flat wind farm, acquired by Brookfield Renewable in 2021, is a fully contracted 338-turbine facility with a nameplate capacity of 845MW in north-central Oregon.
GCM Grosvenor managing director Matt Rinklin said: “We believe Shepherds Flat presents a rare opportunity to invest in a high-quality, hard-to-replicate, sustainable infrastructure asset alongside an experienced owner, operator and developer of clean power.
“The Infrastructure Advantage Strategy is pleased to invest in contracted renewable power generation in the Pacific Northwest energy market. We are confident we can deliver long-term value to our investors through this strategic acquisition.”
Jeh Vevaina, managing partner at Brookfield Asset Management, said: “We are excited to partner with GCM Grosvenor while maintaining exposure to this high-quality asset that provides essential clean energy to customers throughout the Pacific Northwest.
“We continue to see opportunities to further enhance value at Shepherds Flat and are thrilled to be working with GCM.”
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