US clean energy capital solutions provider NuGen Capital Management is investing an additional $100m (€85m) into solar and energy projects.
NuGen, which currently manages more than $250m in investments, said the additional investment will be placed into near-term and operating solar and storage projects across the US.
The company’s current investment comprises a portfolio of solar, storage, real estate and electric mobility projects across the US. NuGen’s investment solutions range from project financing, tax credits, divestment opportunities, equity investments and project acquisitions.
NuGen said it is seeking to partner stakeholders throughout the energy system, including developers, landowners, project owners and operators, to acquire projects.
Laura Frazier, NuGen’s MD, business development and strategy, said: “Since our founding in 2010, NuGen’s mission has been to accelerate America’s energy transition with impactful investment solutions and innovative asset strategies that unlock reliable and affordable new energy sources.
“When we invest in a project, we take pride in forging full-service, always-on relationships with our partners to ensure the unique needs of every project and every customer are being met. We look forward to building on our strong network of partners with this significant level of investment.”
Aaron Rust, NuGen’s MD, renewable infrastructure, said “When NuGen buys or develops a project, it’s because we believe in its long-term value. That’s why we own and operate all the projects in our portfolio, and it’s why we’ve never sold a project to date.
“Our operations and asset management teams have a proven approach to stabilising distressed projects, and we are ready to bring our approach to more projects in more communities across the Northeast and around the country.”
Nicole Verdi, NuGen’s MD, operations, finance and legal, said: “As project owners and operators in addition to investors, we have a unique bird’s-eye perspective on what’s needed to bring complex projects to fruition, and our self-funded operation allows us to offer direct, immediate financial support to move quickly and effectively.
“Our message right now is simple: if you’re seeking capital to reach your project’s next stage, or if you’re looking to sell your operating project to a nimble, trusted, proven, mission-driven partner, our team at NuGen wants to hear from you.”
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