Argo Infrastructure Partners has acquired a US solar portfolio of eight sites from NuGen Capital Management.
The mid-market-focused infrastructure investment manager has invested an unspecified amount to buy the commercial and industrial (C&I) solar assets, which comprise six sites in Massachusetts and two in New Jersey.
The acquisition expands Argo’s existing C&I solar platform to 196 operating sites with a combined capacity of 270MW.
Michael Madia, managing director of Argo Infrastructure Partners, said: “This investment represents another step in expanding Argo’s commercial and industrial solar platform, and we look forward to partnering with NuGen to support the performance of these assets.”
Jason Zibarras, managing partner and founder of Argo Infrastructure Partners, said: “Consistent with our past successes, Argo continues to focus on deploying capital in the compellingly large mid-market infrastructure space.”
David Milner, CEO and founder of NuGen Capital Management, said: “We are proud to have developed and operated this high-quality portfolio and are pleased to partner with Argo.
“Argo’s long-term approach to infrastructure investing and demonstrated commitment to distributed generation make them a strong partner. We look forward to continuing to support their long-term performance as part of Argo’s growing C&I solar platform.”
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