Fengate Asset Management has closed on a new development partnership with 42 Renewables and launched Fengate Distributed Generation Partners. The new platform is focused on acquiring, developing, constructing and operating distributed generation solar, DG solar plus battery storage and DG battery storage projects. Target market segments include community solar; municipal, university, school district and hospital; commercial and industrial; and small utility-scale projects.
Fengate’s development partner in Fengate Distributed Generation Partners is 42 Renewables, led by Ja Kao, most recently president and CEO of Onyx Renewable Partners, where she built a national DG solar platform. Kao also serves as a board member for the American Council on Renewable Energy.
“We are focused on building Fengate Distributed Generation Partners into a top 10 DG solar development company with a proven development team led by Ja,” says Greg Calhoun, managing director of infrastructure investments at Fengate. “The DG market is fragmented and growing, and we are excited to deliver on our targets.”
“We are thrilled to begin this new partnership with Fengate and look forward to creating a company that contributes meaningfully to the goal of building accessible clean energy for all stakeholders,” adds Kao.
Fengate is managing this partnership on behalf of its infrastructure investors, including an investment fund owned by the LiUNA Pension Fund of Central and Eastern Canada.