NEW YORK, Jan. 15, 2019 /PRNewswire/ — Captona, a North America-focused investment company specializing in power generation and energy infrastructure, announced today the continuing expansion of its portfolio of solar assets with the recent commercialization of two solar plants in Rhode Island.
The plants are built on a private landfill that had been capped and closed for decades, thereby putting idle land to valuable use for surrounding communities. The plants use state of the art equipment including Sungrow inverters, LG Panels and RBI Racking solution all constructed by Conti Solar. The systems are 1.59 MWdc and 2.20 MWdc respectively.
Together, the two systems provide clean power for the Town of Johnston and City of Providence, Rhode Island, and will save taxpayers millions of dollars in part by offsetting costs for municipal buildings and schools, all while producing clean energy.
“We are always proud to be involved with projects like these that offer so many benefits beyond broadening our portfolio of solar, wind and other generation assets,” says Izzet Bensusan, founder and managing partner at Captona. “These assets are not only providing sustainable energy on otherwise unusable land, they are also saving taxpayer dollars, diversifying the regional energy supply, and supporting local labor.”
Captona partnered with developer Southern Sky Renewable Energy RI, LLC on these projects.
“As a Rhode Island business, we care about the future of our state. I care about the condition of the environment that I will leave for my children and future generations,” says Ralph A. Palumbo, president of Southern Sky Energy. “We are proud to work with cities and towns across Rhode Island and with other organizations to reduce their energy costs and their burden on the environment.”
Captona Partners is a North America-focused investment company specializing in power generation and energy infrastructure assets. The Firm targets investments across multiple power generation technologies, including renewable energy assets like solar, wind, biomass, and run-of-river hydro as well as conventional power assets like gas-fired generation facilities. The team actively pursues risk-adjusted returns from acquisitions of operating and development opportunities within these sectors with the intent to create value through technical and financial restructuring.
As investors, developers, and operators in the energy sector, Captona possesses deep industry-specific expertise, resources, and relationships permitting us to successfully navigate the ever-changing energy landscape. Our integrated, multi-disciplinary team allows us to successfully address the needs of our customers and the communities we operate in as well as create significant value for our investors.
About Southern Sky Renewable Energy
Southern Sky Renewable Energy RI, a Rhode Island-based business, is the leading solar developer in the state with over 100,000 panels installed and a pipeline of 296 MWs.
SOURCE Captona Partners