C2 Energy Capital Closes New Distributed Generation Fund
NEW YORK, Oct. 29, 2018 /PRNewswire-iReach/ -- C2 Energy Capital, LLC ("C2" or the "Firm"), a leading owner and operator of distributed generation assets, today announced capital commitments of $21 million to the C2 Taiyo Fund I, LP (the "Fund").
The Fund will target renewable energy and storage investment opportunities in the United States. Approximately 50% of the capital commitments have been committed to identified investments. These equity commitments, combined with estimated tax equity and debt, are projected to support $150 million of total assets.
C2 was founded in 2014 to provide capital solutions for the underserved distributed generation ("DG") segment, with a focus on solar photovoltaic generation. The Firm concentrates on investments with equity requirements of less than $25 million. C2's current investments include a 51 MW portfolio of under-construction utility-scale solar power generation facilities in South Carolina, an operating portfolio exceeding 50 MW of other solar facilities throughout the United States, and more than 400 MW of other projects under construction and development.
The new capital commitments will allow for an expansion of C2's proven strategy for renewable energy investments in the United States. C2 will allocate this capital to increase proprietary development and partnerships with local developers. "This capital enables C2 to offer effective solutions to bring projects over the finish line," said Richard Dovere, co-founder and Managing Member of C2. "This discretionary capital is differentiating in that over the next two years, we will have an unparalleled ability to provide solutions for clients and developers in the distributed generation segment."
"We're exceptionally proud that our team was able to attract the confidence of leading institutional investors," added Candice Michalowicz, co-founder and Managing Member of C2. "Quality and safety are our guiding principles and our long-term perspective leads everything from system design to our client and developer partnerships."
Willkie Farr & Gallagher LLP advised C2 on matters relating to the formation, structuring and other corporate matters and Mayer Brown LLP advised C2 on matters relating to the tax and project finance aspects of the Fund.
# # #
ABOUT C2 ENERGY CAPITAL C2 Energy Capital is a developer, owner and operator of renewable distributed generation projects. Founded in 2014, C2 owns over $700 million of solar power generation facilities under operation, construction and development. The Firm serves communities, corporations, educational institutions and governmental power purchasers in 12 states. The C2 team combines creativity and experience with a steadfast commitment to building long-term relationships. Learn more about how we can create a project, investment and partnership that lasts at http://www.c2.energy.
IMPORTANT NOTE ABOUT FORWARD LOOKING STATEMENTS: In this press release, references to "C2," "we," "us," "our," the "Firm" and the "Fund" refer collectively to C2 Energy Capital, LLC, together with its consolidated subsidiaries and/or managed investment vehicles. This press release may contain forward looking statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, discussions related to C2's expectations regarding the performance of its business, its liquidity and capital resources and the other non-historical statements in the discussion and analysis. These forward-looking statements are based on the beliefs of C2 management personnel, as well as assumptions made by, and information currently available to, C2 management personnel. When used in this press release, the words "believe," "anticipate," "estimate," "expect," "intend" and similar expressions are intended to identify forward-looking statements. Although C2 management personnel believe that the expectations reflected in these forward-looking statements are reasonable, they can give no assurance that these expectations will prove to have been correct. These statements are subject to certain risks, uncertainties and assumptions, including risks relating to C2's dependence on certain key personnel, its ability to successfully invest the capital committed to the Fund, market conditions generally, C2's ability to manage its growth, performance, changes in the regulatory environment and tax status, the variability of C2's revenues, net income and cash flow, C2's use of leverage to finance its businesses and investments by the Fund and litigation risks, among others. C2 undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. This press release does not constitute an offer to sell, or a solicitation to buy, interests in the Fund or in any other investment or other vehicle C2 may form in the future.
Media Contact: Victoria Rossi, iMedia International, 212-537-9080, ext. 601, [email protected]
News distributed by PR Newswire iReach: https://ireach.prnewswire.com
SOURCE iMedia International
iReach LastName, iReachCompany, 111-222-3333, [email protected]
Share this article