NEW YORK – Syncarpha and Rosemawr have announced an initial $100M financing partnership to deploy solar and solar plus storage projects in Massachusetts and elsewhere in New England.
“The deployment of shared community solar and energy storage infrastructure creates benefits for the power infrastructure and communities in the region, delivering long-term power savings to our customers and critical support to the grid through the implementation of energy storage. We are excited to be working with Rosemawr in this endeavor, and we appreciate the flexibility and creativity that their financing solution provides,” said Cliff Chapman, CEO at Syncarpha.
“Syncarpha is a longstanding, proven project developer, sponsor, and operator with industry-leading expertise in shared community solar projects, including customer acquisition and management. We are excited to help bring this portfolio to fruition as we continue to execute on our sustainable infrastructure investment deployment strategy with best in-class development and operating partners such as Syncarpha,” said Josh Herlands, Managing Partner at Rosemawr Sustainable Infrastructure Management.
Founded in 2009, Syncarpha Capital, LLC is a New York-based company dedicated to developing, acquiring, financing, owning and operating distributed generation solar, community solar and solar plus storage projects across North America. Partnering with experienced developers, installers, engineers, and EPC contractors, and working closely with its customers, Syncarpha designs and builds on-site solar systems for municipalities, utilities, and businesses – as well as developing community shared solar solutions for consumers and commercial customers. Syncarpha currently operates over 150 megawatts (MW) of ground mounted and rooftop solar assets in ten different states. In February 2022, Syncarpha completed a sale of equity to Pacolet Milliken, LLC, its longstanding third-party capital partner, which resulted in Pacolet becoming the largest shareholder of Syncarpha. Pacolet is a private investment firm owned by the Milliken family, which invests in power, infrastructure and real estate assets.
Rosemawr is an established investment firm focused on the sustainable infrastructure, municipal, not-for-profit, and charter school sectors. Rosemawr was founded in 2008 and currently has approximately $1.3 billion in assets under management. The firm’s sustainable infrastructure portfolio currently includes investments in over 90 solar energy projects located across 14 states, plus numerous investments across property assessed clean energy (PACE), wind energy, and other technologies.
For more information, visit www.rosemawr.com
