Lacuna Raises $50 Mn for Investment in Solar and Storage Development Projects

Mar 19, 2020 05:04 PM ET
  • Lacuna Sustainable Investments has actually revealed that it has actually effectively elevated USD 50 million for financial investment in development-stage solar as well as storage space projects.
Lacuna Raises $50 Mn for Investment in Solar and Storage Development Projects

Lacuna Sustainable Investments has actually introduced that it has actually efficiently elevated USD 50 million to purchase development-stage solar and also storage space projects. Lacuna Sustainable Investments is a financial investment monitoring company energetic in the advancement, funding as well as monetisation of renewable resource projects throughout North America

According to the company the brand-new advancement fund financial investment permits it to considerably broaden its investment-related tasks. The fund will certainly spend, typically, in the "equity capital" parts of growth projects-- pre-construction equity, liked equity and also subordinated financial debt-- and also on minimal celebrations might purchase the straight elderly financial obligation part of the resources framework. Moving forward, Lacuna will certainly reuse funding from the sale of existing financial investments and also get extra funding from project financial obligation centers on an as-needed basis.

Founder David Riester specified "the fund permits us to put better focus on investment-related tasks and also enhance our function as a producer as well as capitalist in advancement projects."

The company additionally carries out minimal consultatory job where the involvement matches the company's financial investment tasks or uses an entrée right into brand-new locations of chance, frequently in conditions where the group's purchase structuring knowledge and also partnerships can be offered.

Patrick McConnell, founder, commented that "the group is thrilled to have actually shut the financial investment and also transform our focus to releasing resources with our advancement companions right into projects that will certainly create very dependable revenue streams for the best lasting proprietors."

"Lacuna is our very own advancement project. We're exceptionally happy with the group we are developing at Lacuna as well as exactly how we come close to cooperation as well as team effort both with our beginning group and also with our growth companions and also capitalists," stated founder Brad Bauer.

Just recently, we reported that Canadian Solar, among the globe's biggest solar energy business, has actually safeguarded a EUR 55 million reciprocal Revolving Credit Facility with Intesa Sanpaolo to money the building of a 151 MWp profile of solar PV projects in Italy, situated throughout various towns in Sicily, Apulia and also Lazio. The initial projects of the profile are anticipated to begin in Q3 this year.