Captona backs Nexamp solar portfolio spanning 55MW across four states
What's the deal? Energy investment firm CaptonaDealroom has a profile for this one. Try Dealroom → has closed a preferred equity investment in Nexamp, the US distributed generation and community solar company. The financing supports 55MW of solar generation and 5MWh of battery storage across 10 projects in Illinois, Maine, Massachusetts, and New York.
What's the endgame? Nexamp develops, builds, and manages clean energy infrastructure, with almost 1.5GW of renewable assets in operation and more under construction. The capital advances a portfolio of solar and storage projects aimed at expanding local access to clean power.
Why now? Rising US power demand is pushing developers to bring new generation online faster. "Meeting rising energy demand requires us to bring new generation online quickly, and that takes strong, flexible partnerships across the industry," said Anjali Patel, vice president of capital markets and strategy at Nexamp.
Captona, a North America-focused firm with close to $3.5 billion in enterprise value, owns and operates more than 50 energy projects spanning storage, solar, microgrids, fuel cell, and RNG technologies. It has run its preferred equity structure since 2023.
What the money is for: Scaling investment in critical energy infrastructure. "As power demand continues to accelerate, we're further scaling our investments to support our partners," said Izzet Bensusan, chief executive officer and founder of Captona.
Kirkland & Ellis advised Captona, while Orrick, Herrington & Sutcliffe advised Nexamp.
The signal: Preferred equity is emerging as a flexible financing tool for distributed solar and storage, letting developers build quickly as grid demand climbs. The deal links one of the largest community solar developers with a growing energy transition investor.
Read more: business.theantlersamerican.com
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