Marathon Capital, LLC (“Marathon Capital”) announces it has advised Advanced Power on the sale of Oriana Solar to Sabanci Renewables, a subsidiary of Sabanci Holdings. Following the sale of Oriana Solar, Advanced Power has successfully originated and closed four utility-scale solar and solar plus battery storage projects totaling more than 800 megawatts-direct current (MWdc) and 240 megawatt-hours (MWh) of battery storage capacity.
Marathon Capital acted as exclusive financial advisor to Advanced Power on the transaction.
“Marathon Capital was thrilled to work alongside the Advanced Power team throughout this process and support its U.S. renewable development expansion. The sale of this project demonstrates Advanced Power’s strengths and ability to develop quality projects and Sabanci’s commitment to be the owner and operator of an international clean energy portfolio. We look forward to seeing the continued efforts from both companies in advancing a sustainable energy future.” – Gary Greenblatt, Senior Managing Director & Co-head of NYC