California-based real estate investment firm Landmark Dividend has finalized the purchase of 3,500 acres of real estate interests in the state, underlying 12 utility-scale solar, wind and battery storage facilities with a cumulative energy generation capacity of 238 MW.
The deal sees Landmark Dividend acquire ownership rights of these renewable projects, of which nine are solar PV plants, two are battery facilities and one is a wind farm. The transactions were finalized via a sale-leaseback mechanism during the fourth quarter of last year.
The company said in a statement that it "works closely with its renewable energy partners to provide custom-tailored real estate solutions", and has welcomed the extension of the Investment Tax Credit (ITC), saying it will help to provide a bridge for renewable energy expansion right up until 2022.
"We are excited about the scope of our acquisitions in the fourth quarter," said Alex Stone, Landmark Dividends senior vice president. "We have made a concerted effort to expand our renewable energy investments, and we look forward to continued partnerships with developers and project owners as they expand their businesses."