Global Investment Firm Commits $100 Million For US Solar

Carlyle Group To Invest $100Mn On Solar Power Projects In US Through Cardinal Renewables, In Partnership With Alchemy Renewable Energy

A new partnership has been announced in the US solar power market with global investment firm The Carlyle Group committing $100 million to be invested here. The proceeds will be used to develop, acquire, finance and operate solar power generation projects across the country.

The Carlyle Group has made this financial commitment through its affiliate company, Cardinal Renewables from its Renewable & Sustainable Energy Fund. To develop the solar power generation capacity, it has partnered with Alchemy Renewable Energy that develops and operates projects along with ensuring financing solutions as a portfolio company of Monarch Private Capital (MPC).

The MPC monetizes and invests in federal and state tax credits for profitable investment opportunities.

Under the partnership, Cardinal Renewables will acquire solar power generation projects and Alchemy will provide asset management services, along with placing tax equity financing, and managing all operations and maintenance services. 

We are excited to partner with Carlyle’s best in class Renewable and Sustainable Energy team to drive forward the energy transition,” said Alchemy CEO Lacie Clark. “Carlyle’s deep market expertise and long-standing relationships with corporations and utilities will be instrumental to enhancing project value creation.” 

Bloomberg says the partnership will focus on projects of 5 MW to 80 MW capacity.

About The Author

Anu Bhambhani

Senior News Editor: Anu Bhambhani is the Senior News Editor of TaiyangNews. Anu is our solar news whirlwind. At TaiyangNews she covers everything that is of importance in the world of solar power.Before joining our team, Anu worked in various positions at publications of the Times Group in New Delhi. As a Principal Correspondent, she conceptualized special features and supplements for both The Times of India and The Economic Times. While Anu delved deep into solar at TaiyangNews, environment topics have been close to her heart before. As Assistant Editor, she was responsible for launching Planet Earth for The Economic Times, a special series on environment. Before joining the Times Group, Anu was a Copy Editor at the Hindustan Times.Anu holds a Masters degree in Journalism and Mass Communications from the University of Rajasthan. She also studied at the Centre for Science and Environment in New Delhi on E-Outreach: New Media Technologies for Advocacy and Strategic Communication, Social Media

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