True Green Capital Management Expands Solar Energy Portfolio
True Green Capital Management LLC Expands Its Solar Energy Reach
True Green Capital Management LLC (TGC) has made a strategic move in the renewable energy sector by acquiring approximately 64 megawatts (MW) DC of operating solar assets. This acquisition was conducted through its fourth investment fund and marks a significant milestone in the firm’s journey towards enhancing its portfolio of renewable energy assets.
Details of the Acquisition
The solar assets acquired consist of 62 projects spread across various geographical locations. These projects span seven different states and four power markets. The diverse range of states includes New Jersey, California, Massachusetts, Minnesota, Virginia, and Delaware, while the power markets engaged in this acquisition are PJM, CAISO, ISO-NE, and MISO. Each project is designed to benefit from robust long-term Power Purchase Agreements (PPAs) alongside various renewable energy credits.
Statements from TGC Leaders
Bo Wiegand, a partner and co-founder of TGC, shared insights into the acquisition's significance, noting that these projects are very similar to distributed assets from prior funds managed by TGC. He emphasized the company’s in-house technical capabilities and their proven track record, placing TGC in a favorable position for creating value from these renewable projects.
Another Milestone for TGC
Panos Ninios, another managing partner and co-founder of TGC, highlighted that this acquisition increases the firm's solar operating portfolio to over 600 megawatts. He expressed excitement over showcasing the firm's capacity to transition operating assets into private ownership, with further plans for future acquisitions of additional operating portfolios.
The Vision of True Green Capital Management
TGC is dedicated to renewable energy and focuses on distributed power generation, primarily within the United States and Europe. The firm’s investments target the burgeoning market of distributed power generation, which is currently estimated at around $1.5 trillion globally. The focus is on the sub-utility scale solar power segment, catering to an increasing demand for cost-effective and efficient electricity generation.
Growth in Clean Energy Investments
Established in July 2011, True Green Capital Management has built a strong reputation for originating, financing, constructing, and operating those renewable power projects effectively. The firm is fully committed to creating investment opportunities in clean energy, driven by the increasing demand for power and the advancement in technology. These movements significantly contribute to a sustainable and reliable energy infrastructure, delivering renewable energy consistently.
Global Presence and Future Outlook
True Green Capital Management is actively investing in solar power generation projects across 18 U.S. states, United Kingdom, and France, ensuring the delivery of clean energy while consistently pursuing innovative investment strategies. This unique focus emerges from a solid understanding of market dynamics, with TGC poised to leverage ongoing technological advancements in the energy sector.
Frequently Asked Questions
What recent acquisition did True Green Capital Management make?
True Green Capital Management recently acquired approximately 64 megawatts DC of solar assets through its fourth investment fund.
How many projects are included in the acquisition?
The acquisition consists of 62 geographically diverse projects located across several states and power markets.
What is the total capacity of TGC's operating portfolio after this acquisition?
With this acquisition, TGC's total solar operating portfolio exceeds 600 megawatts.
What areas does TGC focus its investments on?
TGC primarily invests in distributed power generation across the U.S. and Europe, targeting the sub-utility scale solar power market.
What is the future outlook for TGC based on recent trends?
As power demands rise and technology advances, TGC anticipates continuing to uncover compelling investment opportunities in the renewable energy sector.
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