True Green Capital Management, a renewable energy infrastructure investment firm, has announced the acquisition of 64 MW of operational solar projects from Ecofin US Renewables Infrastructure Trust PLC through its fourth fund.
The assets consist of 62 geographically diversified projects located across seven states and four 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 will also 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.
True Green Capital Management is a specialized renewable energy infrastructure fund manager with a focus on distributed power generation in the U.S. and Europe.
“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 True Green Capital Management.
According to Mercom’s recently released Q1 2025 Solar Funding and M&A report, about 13.6 GW of solar projects were acquired in Q1 2025 compared to 10.8 GW in Q1 2024.
This week, JUWI Energie Rinnovabili, the Italian subsidiary of international project developer JUWI Group, announced the sale of a 50.5 MW solar project portfolio to Kelag Italia, a subsidiary of Kelag Group, an Austrian renewable energy provider. The portfolio comprises eight authorized and ready-to-build solar projects located in Northern Italy. The company did not disclose the financial details of the transaction.
