Captona and Scale Microgrids have completed the acquisition and financing of a collection of community solar and microgrid assets located in New York and California.
Captona Enhances Equity Strategy and Tax Credit Value
This recent investment advances Captona's preferred equity strategy and allows its partner, Scale, to maximize the value of their investment tax credits. The extensive knowledge each party brings in renewable energy financing, combined with Scale's operational expertise in these projects, will significantly enhance the value of Captona's strategic investment.
"Captona is excited to finalize another investment through our rapidly growing preferred equity strategy. This portfolio of microgrids and community solar projects offers reliable, sustainable energy solutions that bolster energy independence and grid resilience. As an energy transition investment firm, we see these asset classes as a perfect addition to our existing portfolio of RNG, fuel cells, storage, and solar," said Izzet Bensusan, CEO and Founder of Captona.
Captona and Scale Partner to Monetize Investment Tax Credits
Captona's partnership with Scale enhances portfolio value by leveraging investment tax credits. Scale is committed to delivering affordable and sustainable power to customers and community stakeholders.
Julian Torres, Chief Investment Officer of Scale Microgrids, highlighted the transaction's achievement in capitalizing on opportunities: "Captona's partnership enables Scale to unlock the portfolio's value. Scale remains dedicated to delivering more affordable, cleaner, and resilient power to our customers and community stakeholders. This transaction has effectively utilized new avenues to monetize investment tax credits under Section 6418."
Captona's Renewable Energy Expansion
Captona is a prominent investment firm in North America specializing in the Energy Transition and Decarbonization. Based in New York City, Captona oversees $2 billion in enterprise value, managing over 30 projects throughout North America. Focused on solar, storage, fuel cell, and RNG assets, Captona leads with innovative investment strategies that combine financial returns with environmental benefits.. Through its diverse portfolio of energy transition assets and strategic partnerships, Captona empowers businesses and communities to adopt clean energy solutions, advancing towards a sustainable future.
Scale's Integrated Platform Powers Diverse Renewable Projects
Scale operates as a vertically-integrated energy company, specializing in designing, constructing, financing, owning, and operating distributed energy assets. Its team fosters the expansion of distributed energy by offering financing to developers and empowering large energy consumers with microgrid solutions integrating solar, batteries, and other on-site energy resources.
The projects, utilizing Scale's vertically integrated platform to progress from development through construction and financing, have all been commissioned. Scale will further maintain ownership, operation, and maintenance of these ventures. They encompass a microgrid powering a pioneering off-grid cold storage facility, another microgrid enhancing energy savings and resilience for a California municipal water district, and community solar projects delivering cost savings to utility customers in New York.
This collaboration underscores their combined efforts to drive sustainable energy solutions while maximizing financial returns through innovative investment strategies and operational excellence.