Renewable Energy Acquisitions in New York

Standard Chartered has entered a long-term strategic partnership with Apollo to provide up to $3 billion of clean energy and infrastructure financing and has purchased a minority equity stake in Apterra, an Apollo-owned infrastructure origination platform. As part of the arrangement, Standard Chartered will provide a senior secured credit facility to Apollo Clean Transition Capital (ACT Capital) while Apterra will lead origination, structuring and deployment of debt capital for infrastructure and energy transition projects.

NOVA Infrastructure has completed the acquisition of approximately 70% of the common shares of UGE International Ltd., a community solar and battery storage developer and operator. NOVA will partner with UGE's management and provide acquisition and growth capital to scale the company's community solar and battery storage platform across the U.S.

Ridgewood Infrastructure LLC announced a structured equity investment in MN8 Energy, one of the largest independent U.S. solar and energy storage power producers. The investment will provide capital to scale MN8's portfolio of solar, battery storage and EV charging projects and support the company's continued growth.

SER Capital Partners has committed $82 million to invest in Brightcore Energy to expand the company’s balance sheet and accelerate deployment of clean energy and efficiency projects. The growth capital will enable Brightcore to scale its Efficiency-as-a-Service offerings — including solar, LED lighting, HVAC/geothermal, EV charging and battery storage — and pursue additional project financing and acquisitions.

Aspen Power Partners acquired Safari Energy, LLC from PPL Corporation and gained Safari's 220 MW portfolio and development platform. The transaction was announced alongside a $350 million investment in Aspen from funds managed by The Carlyle Group to support Aspen's organic growth and acquisition-driven strategy to reach gigawatt scale.

ArcLight Clean Transition Corp. II completed its business combination with OPAL Fuels, creating OPAL Fuels Inc. and listing the combined company on Nasdaq under ticker OPAL. The transaction provides OPAL with public-market access and capital to accelerate expansion of its renewable natural gas (RNG) production projects and network of RNG and hydrogen fueling stations for heavy- and medium-duty trucking fleets.

SER Capital Partners committed $82 million in growth capital to Brightcore Energy to expand the company’s balance sheet and accelerate deployment and financing of commercial clean energy and efficiency projects. Metric Point Capital acted as exclusive placement agent; the investment will support Brightcore’s solar, LED lighting, HVAC/geothermal, EV charging, battery storage and smart building offerings for commercial, industrial and institutional customers.

First State Investments (FSI) has agreed to acquire a 40% stake in renewable-energy developer and operator Terra‑Gen from Energy Capital Partners (ECP); terms were not disclosed and the deal is expected to close in Q4 2020 or early 2021 subject to regulatory approvals. Terra‑Gen, headquartered in New York, owns and operates utility-scale wind, solar, energy storage and geothermal assets (over 1,600 MW operating and more than 3,000 MW under advanced development); FSI said the investment will help execute the company’s growth plan.