CleanCapital buys 13-MW solar portfolio from General Energy Solutions in Indiana, Ohio

CleanCapital

CleanCapital acquired a 13.2 MW solar portfolio from General Energy Solutions USA, comprised of sites in Indianapolis and Columbus, Ohio. CleanCapital now owns and operates 108 solar sites in 11 states ranging in size from 25 kW to 12,600 kW. The company’s partnerships with CarVal Investors, BlackRock, and other institutional investors are driving institutional investment into the rapidly growing distributed clean energy sector.

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CleanCapital’s growth has accelerated in the past 12 months, having invested more than $300 million to acquire more than 100 MW of distributed operating solar assets throughout the United States. This investment is the latest in a series of acquisitions through CleanCapital’s $250 million investment vehicle with CarVal Investors. Included in this acquisition is a portion of the IND Solar Farm at the Indianapolis International Airport, which was, when completed in 2013, the largest solar farm on airport real estate in the world.

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“Our mission at CleanCapital is to accelerate the flow of capital to renewable energy projects in response to the urgent threat of climate change,” said Thomas Byrne, CEO of CleanCapital. “This most recent acquisition again affirms the robust investor appetite for these assets; CleanCapital remains committed to growing institutional investment in all sectors of the clean energy market via our cutting-edge platform.”

“The CleanCapital team had the expertise and capital resources to move our portfolio from initial evaluation to closing in less than 60 days,” said Jack Chen, Managing Director of General Energy Solutions USA. “We are proud to work with an organization that so clearly demonstrates the capacity to invest in and effectively manage clean energy assets.”

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