Cenergy Power, a solar project developer, announced the closing of a preferred equity investment from Aiga Capital Partners, a minority-owned investment advisor. The financing will support the development of the company’s solar project portfolio, totaling more than 300 MW of capacity.
The portfolio includes over 50 MWs of projects in operational and under-construction stages across sites in Maine, Illinois, and California. The company did not disclose the financial details of the investment.
According to the company, the investment supports Cenergy’s goal of establishing its presence as an independent power producer in the renewable energy market.
William Pham, CEO of Cenergy, said, “Aiga’s investment arrives at an inflection point for Cenergy, as we position ourselves to not only grow our development platform but also strengthen our ability to own and operate solar assets. We are excited to start the partnership with Aiga at this defining moment in our 19-year history and to leverage Aiga’s well-known finance and development expertise in renewable energy to get us to the next level of our corporate journey.”
Last year, Aiga Capital Partners announced the closing of its debut climate infrastructure fund with more than $240 million in capital commitments from seven limited partners comprising pension funds, family offices, fund of funds, OCIOs, foundations, and other institutional investors.
According to Mercom’s recently released Annual and Q4 2024 Solar Funding and M&A report, large-scale project funding deals in 2024 totaled $53.8 billion in 259 deals, up from $44.5 billion raised in 229 deals in 2023.
In January 2025, TSE, a solar project developer, announced the closing of €100 million (~$102.7 million) in project financing from Crédit Agricole Transitions & Energies and the Caisse d’Epargne CEPAC. The round brings the company’s total funding raised in 2024 to €220 million (~$229 million).
