Aug 11 (Renewables Now) - US energy infrastructure asset management firm True Green Capital Management LLC (TGC) has successfully closed its third solar power focused fund, reaching its hard cap of USD 350 million (EUR 298m).
True Green Capital Fund III, L.P. attracted a diversified institutional investor base of leading endowments, foundations, investment advisors' clients, fund-of-funds, family offices, and insurance companies, TGC said in a news release yesterday.
TGC's existing investment portfolio consists of commercial and sub-utility scale solar power plants, including one of the largest roof-top installations in the world. It expects to deploy Fund III over the next 1-2 years across similar investment opportunities in the USA.
TGC has an operating portfolio of approximately 150MWs of distributed solar power generation assets across nine states including New Jersey, California, Massachusetts, Idaho, Rhode Island, Connecticut, New York, Tennessee, and Vermont. Since its set up in 2011, the asset manager has developed a privately negotiated pipeline of approximately USD 1.5 billion in projects.
(USD 1 = EUR 0.852)