EIP, NextEnergy buy 102 MW of community solar in New York

US private equity firm Energy Impact Partners (EIP) and a fund managed by UK-based NextEnergy Capital Group on Wednesday said they have purchased a portfolio of community solar projects with a combined capacity of 102 MW in New York.

EIP's Infrastructure Group will develop the portfolio together with local community solar developer US Light Energy. The bundle includes 15 projects located in upstate New York, which are expected to be constructed and brought into operation within 18 months.

Once operational, the projects will supply with power about 15,000 New York homes and help the state to reach its target of 100% net-zero greenhouse gas emissions by 2050.

The deal represents EIP's first foray into infrastructure with its recently formed Infrastructure Group, which aims at partnering with developers on portfolios of community solar and other distributed generation projects across the country.

"This expansion is the logical evolution of our strategy, leveraging our expansive utility partner network, portfolio of innovative technology leaders and deep sector expertise," EIP managing partner Hans Kobler commented.

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