Captona acquires 24-MW New England solar portfolio
- Captona announced it completed its 2019 renewable investment portfolio totaling 24 MW. Captona’s aggregate investments total close to 100 MW and continues to expand as the firm targets over 300 MW in wind, storage and solar in 2020.
The “New England Solar Portfolio IV” (NESP IV) broadens Captona’s current Northeast footprint with positions in Massachusetts and Rhode Island. The portfolio consists of two greenfield-sited solar facilities, including the 21-MW Gold Meadow Farms project that was recently awarded “Best Project” in Rhode Island by Engineering News Record. Captona completed the portfolio’s financing commitments in 2018 along with another 14 MW portfolio it acquired, and the two projects achieved commercial operations in 2019.
This is the fourth in a series of acquisitions made through Captona, demonstrating the efficient execution of its acquisition strategy launched in 2016. Together with the three acquisitions made prior to NESP IV, Captona now owns and operates a total of 19 assets.
“The acquisition of Captona’s fourth New England Solar Portfolio represents another milestone for Captona, advancing our pursuit in impact investing and setting the tone for our future pipeline acquisitions,” said Izzet Bensusan, managing partner and founder of Captona. “Our mission is not only to expand our investments in clean energy, but to do so in a way that supports the local economies and communities within our geographical footprint. Our investments continue to reflect this goal by saving taxpayer dollars, diversifying the regional energy supply, and creating local jobs.”