CleanCapital buys 65.3 MW of solar assets in dozen US states

New York-based clean energy investment platform CleanCapital has acquired a diversified 65.3-MW portfolio of solar power assets located in 12 US states from BR Group Holdings LLC, it announced on Tuesday.

The firm took home 39 projects and 91 total sites with sizes ranging from 0.2 MW to 6.5 MW of capacity. The bundle includes 20 carport assets serving a school district in California, 16 sites serving the Hawaii Department of Education, and also 11.5 MW of community solar projects in Minnesota benefiting various commercial and industrial (C&I) off-takers, CleanCapital said.

The latest purchase is CleanCapital’s six investment since securing a USD-300-million (EUR 263.6m) commitment from Manulife Investment Management back in April 2021. The firm now manages 200 projects in 24 states totalling over 300 MW and worth more than USD 800 million, it said.

The sizable portfolio puts CleanCapital in the top ten list of commercial solar assets owners in the US, according to Michelle Davis, principal analyst at research firm and consultancy Wood Mackenzie.

“CleanCapital’s recent acquisition is substantial for the commercial solar market. In this relatively fragmented segment of the industry, only a handful of commercial solar asset owners have total portfolios over 100 MW,” Davis stated in CleanCapital’s press release.

(USD 1.0 = EUR 0.879)

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