28 Feb 2023

Cleancapital Acquires 35 MW Distributed Solar Portfolio in New Jersey

28 Feb 2023  by   

Solar panels over parking spots at Six Flags Great Adventure in Jackson, N.J. (Photo courtesy of Six Flags Great Adventure)

CleanCapital, a distributed energy investor and developer, has acquired a 35 MW solar portfolio in New Jersey.

The projects, each of which entered service in 2019, serve various commercial and industrial off-takers including Six Flags theme park, a manufacturing facility, the CentraState medical system, and the Borough of Carlstadt.

The New Jersey portfolio comprises four projects ranging in size from 1.6 MW to 23.4 MW, bringing CleanCapital’s investments in clean energy projects to more than 400 MW.

CleanCapital CEO Thomas Byrne said the investments highlight the company’s focus on the “underinvested” middle-market solar and energy storage sector.

Solar canopies over Six Flags Great Adventure parking lots in Jackson, NJ, represent 23.5 MW of the portfolio acquired by CleanCapital. The arrays provide capacity equal to 98% of the power needed to operate the theme park.

CleanCapital engaged Orrick, Herrington & Sutcliffe LLP as Buyer’s counsel on this transaction.


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