Karbone Capital Markets Sources Tax Equity for Pair of Operating Wind Projects

NEW YORK, April 8, 2020 /PRNewswire/ -- Karbone Capital Markets recently closed a tax equity transaction on behalf of its client, Aspenall Energies (Delaware), LLC (hereinafter 'Aspenall'). ITOCHU Corporation and Tyr Energy, Inc. agreed to provide tax equity financing for Aspenall's 30MW Kimball Wind and 13MW South Fork projects respectively located in Kimball County, Nebraska and Jackson County, Minnesota.  

South Fork, which reached commercial operation in November 2016, operates under a 20-year offtake agreement with Muscatine Power & Water. Kimball sells power under a similar contract with the Municipal Energy Agency of Nebraska and reached commercial operation in May 2018.

Karbone Capital Markets is pleased to have advised Aspenall on this meaningful transaction and hopes to assist on future deals as the company grows its renewable platform.

"We are excited to expand our relationship ITOCHU and Tyr as we continue to expand our portfolio of wind and solar assets in the US Market," said John Brown, Chief Development Officer with Aspenall.

About Aspenall

Aspenall Energies (Delaware), LLC was founded in 2007 and is a wholly-owned subsidiary of Treehouse Investments, LLC, a boutique distributed-infrastructure firm dedicated to addressing climate change and gender equality. Treehouse is a signatory of the UN Principles of Responsible Investment (UNPRI) and an Investors' Council member of the Global Impact Investing Network (GIIN). Aspenall is a developer, owner, and operator of distributed-scale wind projects throughout the Midwest, and provides development capital to early-stage wind and solar projects throughout the US and Canada.
For more information, please visit http://www.aspenall.com/ and http://www.treehouseinvestments.com/. 

About ITOCHU and Tyr Energy  

ITOCHU has an ownership interest in 15 power generation projects in the United States through its wholly owned subsidiary, Tyr Energy Inc. (hereinafter "Tyr Energy"). Tyr Energy is a developer, long term owner, and manager of power generation projects. This is ITOCHU and Tyr Energy's sixth investment in a wind generation project in the United States. ITOCHU also runs a service business providing operations and maintenance (hereinafter "O&M") services for power plants through its wholly owned subsidiary, NAES Corporation (hereinafter "NAES"). NAES has more than 180 power plants under contract totaling approximately 49,000 MW making it one of the largest O&M services providers in the world. ITOCHU continues to diversify its power business with a focus on power generation and related services, seeking to further enhance the value of its portfolio companies.
For more information please visit https://www.itochu.co.jp and http://www.tyrenergy.com/

About Karbone Capital Markets

Karbone Capital Markets ("KCM"), a rapidly growing subsidiary of Karbone Inc., provides investment banking services in the clean energy sector, in areas of M&A, recapitalization, and capital raising of debt, sponsor equity, and tax equity. KCM is currently actively engaged in several sell-side mandates and tax equity advisory engagements. Our growing team leverages the greater Karbone platform for access to energy market, PPA and REC transactions, and research capabilities. Securities are offered through Karbone Capital Markets LLC, a Delaware LLC. The firm is a member of FINRA and SIPC and is registered as a broker dealer with the SEC.

SOURCE Karbone Capital Markets