CleanCapital, the distributed energy investor and developer, has acquired a 35 MW solar portfolio in New Jersey.
The projects, each of which commenced operations in 2019, serve various commercial & industrial off-takers including Six Flags theme park, a manufacturing facility, the CentraState medical system, and the Borough of Carlstadt.
The New Jersey portfolio comprises 4 projects ranging in size from 1.6 MW to 23.4 MW – bringing CleanCapital’s investments in clean energy projects to more than 400 MW.
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CleanCapital CEO Thomas Byrne said the investments highlight the company’s focus on the “underinvested” middle-market solar and energy storage sector.
Solar canopies over Six Flags Great Adventure parking lots in Jackson, NJ represent 23.5 MW of the portfolio acquired by CleanCapital. The arrays provide 98% of the power needed to operate the theme park.
CleanCapital engaged Orrick, Herrington & Sutcliffe LLP as Buyer’s counsel on this transaction.