Sale of I-77 Express Lanes

We are delighted to announce that Cintra / Ferrovial and John Laing have agreed to acquire an additional 22.5% in I-77 Mobility Partners, the company developing and operating the I-77 Express Lanes project in Charlotte (NC), at an implied valuation of US$536m for 100% of the equity.

This transaction reinforces WSC’s strong track record in the infrastructure space since our initial investment in 2015 and validates our strategy of sourcing bilateral deals in sectors where we have in-depth knowledge and actively managing them to generate above-market returns.

WSC’s world-class transportation team will continue to seek superior risk/return capital deployment opportunities alongside large industrials in a sector which currently offers a unique investment proposition, primarily in the Americas and Europe.

Cintra / Ferrovial Press Release

John Laing Press Release

WSC COVID-19 Charitable Actions

At WSC, we have always been engaged with and supported our local communities. This is part of our ethical and social principles, which we try and exemplify every day. This year, as the COVID-19 pandemic continues to cause severe social and financial difficulties for families and businesses across the world, we have directed our charitable efforts to supporting those facing food insecurities. The economic impact of the crisis has left many people around the world on the breadline, having decreased or eliminated their income.

Angels & Sparrows is a soup kitchen in Huntersville, NC (USA), that has served over 72,508 meals since the start of the pandemic to anyone in need, without requiring proof of need.

Energía Solar San Ignacio, our renewable energy subsidiary in Mexico, donated basic food supplies to support 385 families within the Campestre Flamboyanes Community (Yucatan). The food pantries included rice, oil, sugar, toilet paper, soap, cookies, wheat flour, beans, pasta, and milk.

We are proud to be helping some of those who need it most and humbled by the effort and dedication of those behind these two benevolent causes.

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White River Renewables completes the acquisition of two solar photovoltaic plants in Mexico totaling 155MWp from Jinko Solar

White River Renewables (“White River”) has completed the acquisition of two solar photovoltaic (“PV”) plants in Mexico from JinkoSolar, one of the world’s largest and most innovative solar panel manufacturers in the world (NYSE: JKS): 

– Las Viborillas, a 130MWp PV plant located in the State of Jalisco – San Ignacio, a 25MWp PV plant located in the Yucatán Peninsula 

Both plants are fully operational, having reached commercial operations under their PPAs in September 2018 and May 2019, respectively. 

White River is a Mexican renewable energy company jointly sponsored by Riverstone Holdings (“Riverstone”), a leading energy and power private equity firm, and White Summit Capital (“WSC”), a Switzerland-based firm specializing in infrastructure investments and asset management. 

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About JinkoSolar Holding Co., Ltd. 

JinkoSolar (NYSE: JKS) is one of the largest and most innovative solar module manufacturers in the world. JinkoSolar distributes its solar products and sells its solutions and services to diversified international utility, commercial, and residential customers globally. 

JinkoSolar has built a vertically integrated solar product value chain, an annual capacity of 11.5 GW for mono wafers, 10.6 GW for solar cells, and 16 GW for solar modules, as of December 31, 2019. 

JinkoSolar has over 15,000 employees across its 7 production facilities and 14 overseas subsidiaries globally.

https://www.jinkosolar.com/ 

About Riverstone 

Riverstone is an energy and power-focused private investment firm founded in 2000 by David M. Leuschen and Pierre F. Lapeyre, Jr. with over US$39 billion of equity capital raised to date. Riverstone conducts private equity and credit investments in the exploration & production, midstream, oilfield services, power and renewable sectors of the energy industry. 

With offices in New York, London, Houston and Mexico City, the firm has committed approximately $40 billion to more than 180 investments in North America, South America, Europe, Africa, Asia, and Australia. 

https://www.riverstonellc.com/ 

About White Summit Capital 

WSC is an investor and asset manager specialized in the infrastructure and energy sectors, with over €1.3 billion of managed infrastructure investments to date. 

Headquartered in Zug, Switzerland, WSC has offices in Madrid, London, and Mexico City with a total of 10 operational and transactional professionals. 

With this transaction, WSC becomes manager of 335 MWp of utility-scale operating renewable assets across Mexico and Spain. 

https://www.whitesummitcap.com/

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Final Section of I-77 Express Opens November 16

Entire I-77 Express Corridor Now Available to Save Drivers Time.

I-77 Mobility Partners announced today that the southern section of I-77 Express from I485 to I-277 in uptown Charlotte opened on November 16 With Saturday’s opening, drivers will now be able to use all 26-miles of I-77 Express. “Since I-77 Express opened on June 1 in the Lake Norman area, more than 2.7 million trips have been taken on the express lanes by over 515,000 different vehicles,” said Javier Tamargo, CEO of I-77 Mobility Partners. “We are proud to make this private investment to develop the first managed lanes in North Carolina. Through partnership with NCDOT and Sugar Creek Construction, we are able to deliver this project and other infrastructure improvements along the existing portion of I-77 sooner than traditional funding would have allowed for the State of North Carolina and motorists. I-77 Express adds a travel option to a key interstate corridor and a new component to the Charlotte region’s comprehensive transportation network.” I-77 Express is already improving travel in the corridor in both the express lanes and general purpose lanes. In October, average speeds during the morning rush hour increased by 15%, and speeds during the afternoon rush hour increased by 17% when compared to pre-opening speeds in October of 2018. I-77 Express runs adjacent to the existing general purpose lanes. Drivers have the option of using the express lanes for more reliable travel times, the general purpose lanes or a combination of both. The number of free general purpose lanes remains the same.

The express lanes have signage one-quarter mile ahead of each segment that clearly displays the transponder toll rate applicable to drive that segment. The toll rate displayed when entering I-77 Express is the price motorists will be charged for that segment. With the full opening of I-77 Express, regular scheduled rates apply, and the current 25 percent discount will expire. Customers can learn more about toll rates here. Dynamic pricing will begin December 1, 180 days from the opening of I-77 Express on June 1. During dynamic mode, toll rates may change as often as every five minutes to accommodate changes in demand for I-77 Express. Toll rates will be based on segment length, time of day, and demand for I-77 Express. Using a NC Quick Pass transponder is the fastest, easiest way to pay for tolls in North Carolina and other states that accept SunPass, Peach Pass and E-ZPass transponders.

 

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Castleton Commodities International LL and White Summit Capital AG have reached an agreement with Arclight Capital Partners LLC to acquire 100% of a 786MW natural gas-fired combined cycle plant located in Amorebieta, in the Basque Country, in Spain. 

Castleton Commodities International LL and White Summit Capital AG have reached an agreement with Arclight Capital Partners LLC to acquire 100% of a 786MW natural gas-fired combined cycle plant located in Amorebieta, in the Basque Country, in Spain. 

London, United Kingdom – November 13, 2019 Castleton Commodities International LLC (“CCI”) and White Summit Capital AG (“WSC”), today announced an agreement to acquire a combined cycle power plant (CCGT) located in the industrial hub of Bilbao, in the Basque Country, in Spain, from Arclight Capital Partners LLC (“Arclight”). Following the acquisition, CCI will own or operate approximately 4,700 megawatts of power generation globally.

The Amorebieta plant is a 786 megawatt state of the art natural gas-fired CCGT that uses two General Electric 9FA gas turbines and one Alstom steam turbine, making it one of the most efficient gas-fired power plants in the Iberian Peninsula. The plant operates under a tolling agreement with Shell España. 

The acquisition is subject to customary closing conditions.

“The Amorebieta acquisition builds on our strategy to increase exposure to the European energy markets and marks our entry into the rapidly changing Iberian hub where we see enormous potential,” said Arie Pilo, Head of CCI’s European Power Investments business.  “We are also impressed by the market and economic fundamentals within the Basque region and by the investor friendly environment”.

Pablo Pallás, partner at WSC said: “We are delighted to partner with CCI and to build on our track-record of teaming-up with world-class institutions. This deal demonstrates our commitment to continue channeling foreign direct investment into the Spanish energy transition”.

 

About Castleton Commodities International LLC

CCI is a global energy commodity merchant with integrated businesses focused on marketing, merchandising, and trading commodities, and the ownership, operation and development of commodities-related infrastructure and upstream assets.  Please visit our website for more information. http://www.cci.com


About White Summit Capital

WSC is an investor and asset manager specialized in the infrastructure and energy sectors and focused on originating, executing and investing in off-market transactions with superior risk/return profiles. We co-invest with our partners, having deployed over EUR 1.3 billion of equity in 5 different assets, and we manage the investments for the long term. WSC is headquartered in Zug, Switzerland with offices in Madrid, London and Mexico City and a total of 10 investment professionals. www.whitesummitcap.com

White River has reached an agreement to acquire two solar photovoltaic (PV) plants in Mexico from Jinko Solar

White River has reached an agreement to acquire two solar photovoltaic (PV) plants in Mexico from Jinko Solar, one of the world’s largest and innovative solar panel manufacturers in the world (NYSE:JKS):

– Las Viborillas, a 130MWp PV plant located in Aguascalientes

– San Ignacio, a 25MWp PV plant located in the Yucatán Peninsula

Both plants are fully operational, having reached COD under their PPAs in September 2018 and May 2019, respectively. Closing is subject to customary approvals.

White River Renewables (“White River”) is a newly-created Mexican renewable energy company jointly sponsored by Riverstone Holdings (“Riverstone”), one of the global leaders of the energy and power private equity sector, and White Summit Capital (“WSC”), a Switzerland-based firm specializing in infrastructure investments and asset management.

 

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Jinko Power, Ardian and White Summit Capital reach agreement to construct and operate solar photovoltaic plant in Spain

Jinko Power, a global renewable energy company, Ardian Infrastructure, one of the European leaders of the Infrastructure sector and White Summit Capital AG, a Switzerland-based firm specializing in private infrastructure, have reached an agreement to jointly construct and operate “La Isla”, a 182.5 MW solar photovoltaic (PV) plant near Seville, Spain.
The project was previously wholly owned…

I-77 Mobility Partners achieves financial close on I-77 express lanes project

I-77 Mobility Partners achieved financial close for the construction and operations of the I-77 Express Lanes project. This represents a significant milestone in the redevelopment and expansion of a critical business corridor in the Charlotte region.

”Cintra is committed to working with state and local leaders to ensure economic development opportunities and safe, reliable, efficient transportation solutions for residents of this fast growing region,” said Nicolas Rubio, United States president of Cintra. “The I-77 project will help reduce roadway congestion and will provide more driver choice, ultimately…