Investment firm Blackstone has formed a new portfolio company that will finance and own distributed energy assets focused on commercial, industrial and institutional customers.
New affiliate Cardinal Renewables will acquire solar projects that venture partner Alchemy Renewables will then manage, operate, maintain and place tax equity financing for.
Equity-and-debt mix from private equity giant and loan facility from banks will help Connecticut-based distributed solar firm take its asset portfolio upwards of US$1 billion.
Mercom: Rising allocations from debt players, private equity, venture capital and public markets helped global industry raise US$9bn between January and June 2019.
Mercom: US$300m ReNew Power deal and stock exchange listings help industry raise US$6bn in H1 2019 from venture capitalists, public markets and debt providers.
SolarWindow Technologies, which develops transparent coatings that turn ordinary glass into electricity-generating windows, has completed a round of equity financing for US$25 million.
Many developers with solar assets in India are looking to sell their portfolios. Some of them have been in the market for a long time and are under pressure from their investors to find an exit, according to the head of consultancy firm Bridge to India.
The Indian government and three of its state-run companies are setting up a US$2 billion equity fund to help renewable energy companies meet the country's ambitious targets, according Reuters citing two government sources.
