CleanCapital Accelerates Solar Acquisitions, Announcing 13MW Deal in Indiana and Ohio

NEW YORK, New York – January 29, 2019 – CleanCapital announced today the acquisition of a 13.2MW solar portfolio from General Energy Solutions USA, Inc. The portfolio is comprised of sites in Indianapolis, Indiana and Columbus, Ohio. CleanCapital’s growth has accelerated in the past 12 months, having invested more than $300 million to acquire more than 100MW of distributed operating solar assets throughout the United States. This investment is the latest in a series of acquisitions through CleanCapital’s $250 million investment vehicle with CarVal Investors. Included in this acquisition is a portion of the IND Solar Farm at the Indianapolis International Airport, which was, when completed in 2013, the largest solar farm on airport real estate in the world.

CleanCapital now owns and operates 108 solar sites in 11 states ranging in size from 25KW to 12,600KW. The company’s partnerships with CarVal Investors, BlackRock, and other institutional investors are driving institutional investment into the rapidly growing distributed clean energy sector. Chris Hopgood of Ignite Renewable Capital, LLC consulted on this transaction.

“Our mission at CleanCapital is to accelerate the flow of capital to renewable energy projects in response to the urgent threat of climate change,” said Thomas Byrne, CEO of CleanCapital. “This most recent acquisition again affirms the robust investor appetite for these assets; CleanCapital remains committed to growing institutional investment in all sectors of the clean energy market via our cutting-edge platform.”

 “The CleanCapital team had the expertise and capital resources to move our portfolio from initial evaluation to closing in less than 60 days,” said Jack Chen, Managing Director of General Energy Solutions USA. “We are proud to work with an organization that so clearly demonstrates the capacity to invest in and effectively manage clean energy assets.”

About CleanCapital
CleanCapital is an industry-leading clean energy investment platform. Founded in 2015, CleanCapital owns and manages nearly $300M of distributed operating solar assets. CleanCapital leverages its leading edge technology platform to evaluate renewable energy investments with speed and certainty. Its mission is to accelerate investment in all sectors of the clean energy industry to address the urgent threat of climate change. Learn more at cleancapital.com.

About General Energy Solutions USA, Inc.
General Energy Solutions USA is the global solar system development vehicle of United Renewable Energy Co., Ltd (https://www.urecorp.com/us/) headquartered in Taiwan. GES leverages URE’s position as a leader in solar cell technology in order to expand its global solar systems businesses. GES strives to lead the way as a provider of sustainable and affordable photovoltaic energy systems on a global scale.

About CarVal Investors
CarVal Investors is a leading global alternative investment fund manager focused on distressed and credit-intensive assets and market inefficiencies. Since 1987, CarVal has invested $113 billion in 5,320 transactions across 79 countries. CarVal has a history of successful energy and power investments and is innovative in structuring partnerships in the renewables industry. For more information, visit www.carvalinvestors.com.

About Ignite Renewable Capital, LLC
Ignite Renewable Capital is focused on renewable energy financing, development and consulting to leading developers and financiers in North and South America. Since its inception, Ignite has demonstrated the ability to successfully market renewable projects and operating assets to various investors and maximize returns to its clients.

Press contacts

Carly Battin, Marketing Director
cbattin@cleancapital.com
716.374.1596