CleanCapital, CarVal buy 75.2 MW of New Jersey solar

Solar array. Author: U.S. Department of Agriculture .

July 19 (Renewables Now) - Clean energy investment platform CleanCapital LLC said Thursday its investment vehicle with CarVal Investors has acquired a 75.2-MW solar portfolio in New Jersey from KDC Solar LLC.

In the same statement, the New York-based company said its partnership with funds managed by CarVal Investors secured USD 300 million (EUR 267.3m) in debt financing for the acquisition of distributed solar and energy storage projects. The debt warehouse facility has been provided by Credit Suisse Group AG (NYSE:CS) under undisclosed terms.

The newly acquired portfolio, named Olympic, consists of 15 operating assets with capacities ranging from 157 kW to 10 MW. All assets have off-take contracts in place.

CleanCapital now manages USD 465 million of assets and owns and operates a portfolio of 180 MW of renewables.

(USD 1.0 = EUR 0.89)

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