Boston, MA – North Sky Capital (“North Sky”), a pioneer in impact investing, is pleased to announce its second sustainable infrastructure fund, in partnership with PowerBridge Investments, LLC, has successfully exited its investment in Upstate Transmission Holdings, LLC (“UTH”). UTH is the owner of the Volney-Marcy transmission line, a 66-mile high-voltage electric transmission line connecting Oswego and Oneida Counties in central New York that supports the delivery of clean energy to the region. The Volney-Marcy transmission line is leased to Niagara Mohawk Power Corporation, a subsidiary of National Grid plc, through 2043. North Sky sold the asset to a large infrastructure investment fund.
North Sky’s Sustainable Infrastructure Fund II financed the development and construction of a variety of projects involved in clean energy generation across solar, wind and hydropower, as well as electric transmission and energy storage. The sale of UTH demonstrates North Sky’s leadership across these sustainable infrastructure sectors and its ability to generate attractive financial returns for investors even in volatile exit markets. New Energy Capital served as a sub-advisor on the investment.
About North Sky Capital Sustainable Infrastructure
North Sky Capital is a registered investment adviser and pioneer in impact investing in the United States. The firm has two flagship investment strategies: sustainable infrastructure and impact secondaries (private equity). Both strategies support positive environmental and social impact and target investment returns in excess of public market returns. North Sky has been an active infrastructure investor for more than a decade with a marked reputation as an early-mover in emerging sectors in sustainable infrastructure. The firm has deployed more than $700 million across more than 40 direct impact infrastructure investments on behalf of its three prior real asset funds. North Sky is headquartered in Minneapolis, MN, and the infrastructure deal team operates out of offices in Boston. For more information, visit www.northskycapital.com.