July 10 (Renewables Now) - Private asset manager Capital Dynamics has joined hands with US solar investor Sol Systems in a new joint venture (JV) that will focus on the distributed generation (DG) solar market.
Dubbed Sol Customer Solutions, the new entity will invest large pools of institutional capital in the DG market by acquiring “a significant portfolio” of projects. The JV was set up through Capital Dynamics’ Clean Energy Infrastructure (CEI) business, the asset manager said on Tuesday without providing financial details on the transaction.
"The large scale DG market is rapidly evolving and this investment is a critical part of our broad focus on this important sector in the market," said Tim Short, Capital Dynamics’ managing director. The two partners pointed out that the DG segment currently offers some of the most competitive renewable energy solutions for commercial, municipal and educational customers.
Sol Customer Solutions will be based in Washington, DC and will be managed by Andrew Gilligan, Sol Systems' vice president.
Cohn Reznick Capital provided investment banking services for Sol Systems in the JV deal. Capital Dynamics received legal representation by Amis, Patel and Brewer LLP.