{"id":1004339759,"date":"2019-07-23T05:44:09","date_gmt":"2019-07-23T13:44:09","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004339759"},"modified":"2019-07-23T05:44:09","modified_gmt":"2019-07-23T13:44:09","slug":"cleancapital-carval-acquire-75mw-solar-portfolio-in-nj","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cleancapital-carval-acquire-75mw-solar-portfolio-in-nj\/","title":{"rendered":"CleanCapital, CarVal Acquire 75MW Solar Portfolio in NJ"},"content":{"rendered":"

CleanCapital has purchased a 75.2-megawatt solar portfolio in New Jersey. The transaction is the fourth in a series of acquisitions made through CleanCapital\u2019s $250 million investment vehicle with CarVal Investors and marks the company\u2019s largest acquisition to date.<\/p>\n

The solar portfolio, dubbed Olympic, was acquired from KDC Solar and consists of 15 operating solar facilities, which entered commercial operation between 2011 and 2016. They average 5MW and range in size from 157 kilowatts to 10 megawatts. Off-takers for these projects include Fortune 100 companies as well as local governments and institutions.<\/p>\n

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READ ALSO:<\/strong> Ardagh Group Adds Solar to Its NJ Plant<\/a><\/p>\n

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The transaction was led by Melinda Baglio, CCO & general counsel at CleanCapital, while Fox Rothschild represented KDC. CleanCapital now owns and operates 180 megawatts of renewable energy assets and holds $465 million worth of assets under management. The company plans to leverage the proceeds to further accelerate acquisitions of small-scale renewable energy projects throughout the U.S., building portfolios attractive to institutional investors in the asset-backed security market.<\/p>\n

Concurrent to this portfolio expansion, CleanCapital and funds managed by CarVal Investors have closed on a $300 million debt-warehouse facility with Credit Suisse.<\/p>\n","protected":false},"excerpt":{"rendered":"

Dubbed Olympic, the 15 facilities were acquired from KDC Solar. Off-takers for these projects include Fortune 100 companies as well as local governments and institutions.<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,21742,10,21786],"tags":[46397,46394,34106,35875],"class_list":["post-1004339759","post","type-post","status-publish","format-standard","hentry","category-industrial","category-investment","category-latest","category-northeast","category-sustainability","tag-carval-investors","tag-cleancapital","tag-credit-suisse","tag-solar-power"],"acf":[],"yoast_head":"\nCleanCapital, CarVal Acquire 75MW Solar Portfolio in NJ - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cleancapital-carval-acquire-75mw-solar-portfolio-in-nj\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CleanCapital, CarVal Acquire 75MW Solar Portfolio in NJ\" \/>\n<meta property=\"og:description\" content=\"Dubbed Olympic, the 15 facilities were acquired from KDC Solar. Off-takers for these projects include Fortune 100 companies as well as local governments and institutions.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cleancapital-carval-acquire-75mw-solar-portfolio-in-nj\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-07-23T13:44:09+00:00\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cleancapital-carval-acquire-75mw-solar-portfolio-in-nj\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cleancapital-carval-acquire-75mw-solar-portfolio-in-nj\/\",\"name\":\"CleanCapital, CarVal Acquire 75MW Solar Portfolio in NJ - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"datePublished\":\"2019-07-23T13:44:09+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cleancapital-carval-acquire-75mw-solar-portfolio-in-nj\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/cleancapital-carval-acquire-75mw-solar-portfolio-in-nj\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cleancapital-carval-acquire-75mw-solar-portfolio-in-nj\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"CleanCapital, CarVal Acquire 75MW Solar Portfolio in NJ\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\",\"name\":\"Anca Gagiuc\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g\",\"caption\":\"Anca Gagiuc\"},\"description\":\"Anca Gagiuc brings more than a decade of experience within the real estate industry. 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