Captona, a North American energy investment firm, has closed a preferred equity investment with Nexamp, the country’s largest fully integrated distributed generation and community solar company.
The capital will help finance 55 megawatts (MW) of solar generation and 5 megawatt-hours (MWh) of battery storage across 10 projects in Illinois, Maine, Massachusetts, and New York.
Captona began offering its preferred equity structure in 2023, and the Nexamp deal is the latest step in that program. The firm describes the transaction as a showcase for its ability to deploy flexible capital at scale, and as a sign of the trust it has built with established developers.
“As power demand continues to accelerate, we’re further scaling our investments to support our partners and the development of critical energy infrastructure,” said Izzet Bensusan, CEO and Founder of Captona, in a statement.
Nexamp says the investment will help move a varied mix of solar and storage projects forward, with the aim of bringing local clean energy to more people and strengthening power systems in the communities where the projects are located.
Kirkland & Ellis advised Captona on the transaction, and Orrick, Herrington & Sutcliffe advised Nexamp.
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