8point3 Energy Partners LP (NASDAQ:CAFD) Files An 8-K Other EventsItem 8.01. Other Events.
As previously disclosed, 8point3 Operating Company, LLC (“OpCo”), a wholly-owned subsidiary of 8point3 Energy Partners LP (the “Partnership”), and First Solar, Inc. (“First Solar”) entered into the Right of First Offer Agreement, dated as of June 24, 2015 (the “ROFO Agreement”), to which First Solar granted to OpCo a right of first offer to purchase certain solar energy generating facilities for a period of five years, including the 40 MW Cuyama facility in Cuyama, California (the “Cuyama Project”). The Partnership has also previously disclosed that OpCo waived the 45-day negotiation period under the ROFO Agreement with respect to the Cuyama Project and that, following such waiver, First Solar had entered into an agreement to sell its interest in the Cuyama Project to a third party.
On August 17, 2017, it was announced that such sale has closed. As such, OpCo no longer has the ability to acquire such interest in the Cuyama Project or its related assets.
About 8point3 Energy Partners LP (NASDAQ:CAFD)
8Point3 Energy Partners LP owns, operates and acquires solar energy generation projects. As of July 31, 2016, the Company owned a 28.2% limited liability company interest in 8point3 Operating Company, LLC (OpCo). As of July 31, 2016, the Company’s portfolio consisted of interests in 530 megawatts (MW) of solar energy projects. As of July 31, 2016, the Company owned interests in eight utility-scale solar energy projects, all of which are operational. As of July 31, 2016, its assets represented 88% of the generating capacity of its portfolio. As of July 31, 2016, the Company owned interests in four commercial and industrial (C&I) solar energy projects, two of which were operational and two of which were in late-stage construction, and a portfolio of residential distributed solar generation (DG Solar) assets, which represent 12% of the generating capacity of the Company’s portfolio. Its portfolio is located entirely in the United States and consists of utility-scale and C&I assets.