WESTPORT, Conn., April 15, 2025 -- True Green Capital Management LLC ("TGC"), a specialized renewable energy infrastructure investment firm, acquired through its fourth fund on March 10, 2025 approximately 64 megawatts DC of operating solar assets from Ecofin US Renewables Infrastructure Trust PLC (London Stock Exchange Listed).
The acquisition consists of 62 geographically diversified projects located across seven states and four power markets. The states include New Jersey, California, Massachusetts, Minnesota, Virginia, and Delaware while the power markets include PJM, CAISO, ISO-NE, and MISO. The projects benefit from long-term PPAs as well as various renewable energy credits.
"These projects are substantially similar to the distributed assets in our prior TGC funds which were acquired then optimized into an institutional-caliber portfolio. Our in-house technical capabilities, track record and familiarity with these types of projects places TGC in a strong position with respect to value creation," said Bo Wiegand, Partner and Co-Founder of TGC.
"This acquisition increases TGC's current distributed solar operating portfolio to over 600 megawatts. With this transaction we demonstrated our Firm's capabilities to take operating assets private. We look forward to supplementing these assets with future operating portfolio acquisitions," said Panos Ninios, Managing Partner and Co-Founder of TGC.
A&O Shearman served as legal counsel to TGC.
About True Green Capital Management LLC
True Green Capital Management is a specialized renewable energy infrastructure fund manager with a focus on distributed power generation in the US and Europe. The Firm is international with offices in Westport, Connecticut in the US and London in the UK and an investment focus across the United States and Europe. Founded in July 2011, TGC is led by a team of professionals with a proven track record and a demonstrated capacity to originate, finance, construct, and operate distributed renewable power generation projects.
TGC believes the demand for power, the continued increase of power prices, decreasing entry costs of distributed power generation technology and the efficiency of creating and delivering price-competitive electric power at the source will continue to lead to compelling investment opportunities which provide a stable cash flow stream with low correlation to the broader markets.
TGC is currently focused on investing in the US, the UK and the EU, which account for a notable portion of the approximately $1.5 trillion global distributed power generation market, with an emphasis on the sub-utility scale solar power segment1. Thanks to power industry deregulation combined with rapid advancements in technology, the economics of distributed power generation, including solar and batteries, are now competitive with traditional electricity generation sources. In many U.S. states and key European jurisdictions, it represents one of the few sources of new power generation infrastructure that can be added to the power network quickly, reliably, and cost efficiently.
To date, TGC has invested into a distributed solar power generation portfolio across 18 U.S. states, United Kingdom and France, delivering clean, renewable energy. U.S. states include California, Colorado, Connecticut, Delaware, Idaho, Illinois, Maryland, Massachusetts, Minnesota, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Tennessee, Vermont and Virginia.
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