Overland Capital Partners Closes on the Purchase of a 50% Interest in an ERCOT Wind Project

Overland Capital Partners (“OCP” or the “Fund”), a private equity fund investing in renewable energy projects newly formed by Tyr Energy, Inc. (“Tyr”), has acquired from a subsidiary of BlackRock a 50% equity interest in the Grandview wind project (“Grandview”) located in Carson County, TX.

Grandview is a 211 MW operating wind project utilizing GE 1.79 MW turbines and supplies 90% of its electricity via a long-term offtake agreement with an investment-grade counterparty.    Grandview is now jointly owned by OCP and a subsidiary of RWE Clean Energy (“RWE”), a leading renewable energy company in the United States with more than 9 GW net installed capacity of onshore wind, solar and battery storage assets from coast to coast.  RWE will continue in its roles as Operator and Asset Manager of Grandview.

Richard Carrell of Tyr Capital Advisors issued a statement noting, “The OCP team is excited about its first transaction in the Fund.  Grandview is a tremendous asset that is strategically located in one of the highest wind resource regions in the country and has performed well under the stewardship of RWE and BlackRock.  We look forward to our long-term partnership with RWE and to being part of the Grandview story.”

About OCP

OCP is a newly formed private equity fund established with the purpose of investing in renewable energy projects in the United States.  The Fund is managed by Tyr as the General Partner and limited partner investors include Sumitomo Mitsui Trust Bank, Fuyo General Lease Co., and Tokyu Land Corporation.

About Tyr

Headquartered in Overland Park, KS, Tyr is an owner, manager, and developer of North American independent power projects.  Since its inception in 2003, Tyr has developed and invested in more than 30 power plants in the United States, including eight investments in wind and solar assets.    Tyr, through its wholly-owned subsidiary, Tyr Energy Development Renewables, LLC, is currently developing solar power projects and storage batteries with a total capacity of approximately 4 GW.  Tyr is also an affiliate of NAES Corporation, the world’s largest independent O&M provider, which operates approximately 250 thermal power plants with a capacity of 57 GW, as well as approximately 1,400 solar power facilities with a capacity of 2 GW.