8point3 Energy Partners Declares 3.5 Percent Increase in Quarterly Distribution

8point3 Energy Partners announces that the Board of Directors of its general partner declared a cash distribution for its Class A shares of $0.2490 per share for the fourth quarter of 2016.

This represents an increase of approximately 18.7 percent over the minimum quarterly distribution and an increase of 3.5 percent over the previous quarter’s distribution of $0.2406 per share.  The fourth quarter distribution will be paid on January 13, 2017 to shareholders of record as of January 3, 2017.

Early this year in November 8point3 Energy Partners entered into an agreement to acquire First Solar’s 34 percent stake in its 300-megawatt (MW) Stateline solar project for USD 329.5 million.

The project is expected to generate approximately $32 million in average annual pre-tax cash distributions and has a 20 year contract life.

Located in San Bernardino County, the Stateline project commenced operations in August 2016. The project is majority owned by Southern Company.