Captona’s partnership with Scale now totals $100 Million in clean energy assets
Captona, a leading energy transition investment firm in North America, today announced the expansion of its signature preferred equity program through its partnership with Scale Microgrids (“Scale”), a vertically integrated distributed energy company. This new transaction builds on the success of the prior preferred equity investment between Captona and Scale and adds 19.5 MW of new microgrid and community solar projects located in New York and California. This subsequent transaction underscores the repeatability and scalability of Captona’s preferred equity investment structure and significantly grows Captona’s assets under management.
This latest transaction marks Captona’s second preferred equity deal with Scale and pushes the partnership’s total asset value beyond $100 million. It also highlights Captona’s rapidly growing pipeline of preferred equity transactions, which the firm has executed across solar, storage, and microgrid platforms nationwide.
“We are scaling fast — closing repeat preferred equity transactions with best-in-class developers like Scale is core to our strategy,” said Izzet Bensusan, CEO and Founder of Captona. “With this deal, we’re proving how our capital accelerates the build-out of resilient, distributed energy assets that communities and businesses need today.”
Julian Torres, Chief Investment Officer at Scale Microgrids, added, “We are thrilled to expand our relationship with Captona. Their continued support is a critical enabler of Scale’s mission to power the world with distributed energy and deliver maximum value from day one while ensuring reliable operations and fast time-to-power. We look forward to accelerating our impact together.”
The six new projects have now either reached or are near commercial operation and represent one of several recent transactions that Captona has completed using the firm’s preferred equity structure it pioneered. Other recent investments include the structuring of an investment in a portfolio of three utility-scale Battery Energy Storage Systems developed by esVolta in Texas, four utility-scale BESS projects in Texas with UBS Asset Management and a portfolio of Scale community solar and microgrid assets in New York.
Kirkland & Ellis LLP served as legal advisor to Captona, while Orrick served as counsel to Scale.
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