Potentia Renewables Achieves Milestone with Big Sky Wind Acquisition
Deal News | Feb 14, 2025 | Pgim Private Capital Ltd
PGIM Private Capital has invested $148 million in Senior Secured Notes to support Potentia Renewables' acquisition of Big Sky Wind, a 240 MW wind facility in Illinois. Originally commissioned in 2012 and undergoing significant repowering in 2022, Big Sky Wind has enhanced efficiency and increased energy output with new Vestas turbines. This acquisition aligns with Potentia's strategy to expand renewable energy production. PGIM Private Capital views this investment as a stepping stone to a long-term partnership with Potentia, underscoring its commitment to providing private debt solutions to drive clean energy projects. Potentia, affiliated with Power Sustainable, is an integrated manager of renewable assets with a strong foothold in Canada.
Sectors
- Renewable Energy
- Private Equity and Investment
Geography
- United States – The Big Sky Wind facility is located in Illinois, making the U.S. a primary focus of the acquisition.
- Canada – Potentia Renewables, a prominent player in the renewable energy sector, is based in Canada.
Industry
- Renewable Energy – The article discusses Potentia Renewables' acquisition of a wind facility, highlighting the commitment to renewable energy expansion.
- Private Equity and Investment – PGIM's investment in the acquisition indicates activity in private equity and investment strategies.
Financials
- $148 million – The investment made by PGIM Private Capital to support the acquisition of Big Sky Wind.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Potentia Renewables Inc. | Buyer | Company | A Canadian integrated developer and operator of renewable energy assets. |
| PGIM Private Capital | Investor | Company | A private capital arm of PGIM providing private debt solutions. |
| Big Sky Wind | Target Company | Facility | A 240 MW wind facility in Illinois undergoing acquisition. |
| Vitol | Selling Company | Company | A leading energy and commodities company previously owning Big Sky Wind. |
| Ingrida Soldatova | Senior Principal, PGIM Private Capital | Person | Commented on the investment representing PGIM. |
| Ben Greenhouse | CEO of Potentia Renewables Inc. | Person | Commented on the alignment of the acquisition with Potentia's renewable energy commitment. |