CleanCapital Acquires Four Solar Parks in New Jersey

• US clean energy investment platform CleanCapital has acquired four solar parks in New Jersey with a combined capacity of 34.5 MW, expanding the company's investments in clean energy projects to more than 400 MW.

What happened?

CleanCapital, a US clean energy investment platform, recently acquired four solar parks in New Jersey with a combined capacity of 34.5 MW. The four parks, which were commissioned in 2019, have individual capacities between 1.6 MW and 23.4 MW and generate electricity from commercial and industrial power off-takers, such as Six Flags theme park, New Jersey’s CentraState Healthcare System, and the Borough of Carlstadt. The value of the purchase was not disclosed. 

Why does it matter?

This acquisition is significant as it marks CleanCapital’s expansion into the middle-market solar and energy storage sector, which is still largely underinvested. According to Thomas Byrne, CEO of CleanCapital, this acquisition is “exemplary of our focus on middle-market solar and energy storage”. CleanCapital has now invested in over 200 projects and operational plants across 26 US states and territories. 

What's next?

CleanCapital’s mission is to expand the access to clean energy investments, and the company will continue to look for opportunities to expand its portfolio. The company is hoping to help accelerate the shift to renewable energy and to reduce the US’ carbon footprint. It will be interesting to see how CleanCapital continues to grow and how it will continue to make an impact on the clean energy industry.