Power Sustainable Energy Infrastructure (PSEI) sold a 49.9% interest in its 240‑megawatt Big Sky Wind facility in Illinois to Hamilton Lane and GCM Grosvenor. The transaction gives GCM Grosvenor a minority ownership position in a fully repowered, operating wind asset located in the PJM market, while PSEI retains a 50.1% majority stake. The financial terms of the deal were not disclosed.
Big Sky Wind was repowered in 2022, replacing older turbines with newer Vestas models that increase efficiency and output. The 240‑MW facility is fully operational and generates power in the PJM wholesale electricity market, which is a major market operator in the eastern United States. The repowering upgrade has positioned the asset as a high‑quality, low‑risk renewable energy source.
PSEI’s strategy is to partner with institutional investors and recycle capital for new opportunities. "This transaction highlights the quality of the asset and reflects our disciplined approach to active portfolio management and capital recycling, enabling us to reinvest in new opportunities and continue to scale our platform," said Pierre‑Olivier Perras, Managing Partner at PSEI.
GCM Grosvenor’s investment aligns with its Infrastructure Advantage Strategy and Infrastructure Credit Platform, adding a durable, low‑risk renewable asset to its infrastructure portfolio. "Big Sky Wind is a high‑quality, repowered asset with a strong operating profile and exposure to a constructive U.S. power market. Our investment reflects a focus on accessing established infrastructure assets alongside experienced sponsors, where we see the potential for durable cash flows and long‑term value creation," said Kevin Pellecchia, Executive Director of Infrastructure Investments at GCM Grosvenor.
Hamilton Lane’s participation underscores its interest in operating wind assets with strong contractual frameworks and attractive risk‑return profiles. "This was a unique opportunity to invest in an operating wind asset with a strong contractual framework, an attractive risk‑return profile and favorable transaction dynamics," said Taylor McManus, Principal on Hamilton Lane’s Infrastructure Investment Team.
The transaction comes amid GCM Grosvenor’s strong financial performance; its fourth‑quarter 2025 earnings exceeded expectations, with fee‑related revenue of $416 million, a 6% year‑over‑year increase. The deal also reflects broader PJM market dynamics, where renewable energy credits are becoming a significant revenue source for wind farms, further enhancing the asset’s value proposition.
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