Captona Partners, an investment company, has acquired 6MW brownfield solar farm in Warwick, Rhode Island.
Image: Captona Partners acquires solar park in Rhode Island. Photo: Courtesy of RK008/FreeDigitalPhotos.net
The acquisition puts Captona ahead of its portfolio goals for wind, solar and other generation assets.
Captona’s in-house design capabilities enable the company to oversee development of energy projects to ensure technical and financial performance. The company underwrote and executed the deal in a short time frame, bundling it into its investment portfolio.
Captona Partners CEO and co-founder Izzet Bensusan said: “This project supports our mission of impact investing in a socially responsible way by not only converting a brownfield to productive renewable energy generation, but also by providing economic benefits to the local community.
“Our global portfolio continues its growth of wind and solar projects and is on track to reach 500 MW by 2020 along with our baseline capital growth.”
Captona’s team will own and operate the asset, providing net metering credits to the City of Warwick as of 18 October, this year.
Source: Company Press Release