Captona and Scale Microgrids have closed on and funded a portfolio of community solar and microgrid assets in New York and California.
The investment furthers Captona’s preferred equity strategy and enables Scale to optimize the value of their investment tax credits, the companies say.
“Captona is thrilled to complete yet another investment through our rapidly expanding preferred equity strategy,” adds Izzet Bensusan, CEO and founder of Captona.
“This portfolio of microgrids and community solar projects provide reliable, sustainable energy solutions that enhance energy independence and grid resilience. As an energy transition investment firm, we find these asset classes to be a great fit within our existing portfolio of RNG, fuel cells, storage and solar.”
The projects have all been placed in service. Scale will continue to own, operate and maintain them.
Kirkland & Ellis served as counsel for Captona. Allen Overy Shearman served as counsel for Scale Microgrids.
