Earlier this week, we announced our first acquisition of 2019: two solar projects in Indiana and Ohio totalling 13.2MW. This closing comes as I celebrate one year as CleanCapital’s Head of Acquisitions and General Counsel, which has me reflecting on the company’s growth and many successes over the past 12 months. It’s been a breakout year, made possible in large part by the technology platform that enables our investments and operations.
Our acquisitions last year totaled 71MW, or $130M, more than tripling the capacity of the assets that CleanCapital owns and operates. Among our 2018 closings was the acquisition of our largest portfolio to date, comprised of 60 individual projects in three states. And we announced partnerships with CarVal Investors and BlackRock, enabling us to swiftly connect institutional capital to attractive opportunities. Our team hit its stride and continues to prove its ability to close deals in record time.
Perhaps even more significant than our public achievements were the many behind-the-scenes wins that made them possible. One of the most exciting things about the past year was the full-scale launch of CleanCapital’s technology platform. That technology has become an integral part of the transaction process, not just for our team but for our partners as well, including the sellers and investors we work with and our myriad advisors on these transactions. The platform organizes information, communication, and process flow to dramatically increase the speed and efficiency with which we are able to close deals.
We kicked off 2019 with the acquisition of a portfolio that includes our largest single asset to date: a 12.6MW solar array at the Indianapolis International Airport. We took that deal from initial evaluation to closing in seven weeks (less, if you consider the impact of the winter holidays). Our technology has grown and adapted to serve our needs along with those of our partners — CarVal Investors, BlackRock, KPMG, Ernst & Young, CIT, Santander, DuFour Conapinski, and Akin Gump, to name a few — as we underwrite, diligence, and manage our portfolio. We now rely on it to manage the operations of 108 solar projects in 11 states.
CleanCapital is still a young company, but as I look at our recent record I believe we’re achieving what we set out to do: accelerate the flow of capital into clean energy. The pace of recent acquisitions and speed with which we closed them shows that we’ve got the tools, relationships, and expertise to respond to investor demand for these assets, and we are ready to launch into new areas of renewable energy in the coming year. Our technology is conquering the complexities that used to make renewable energy investment so challenging, and the industry is taking notice.
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