Boston, MA – North Sky Capital (“North Sky”), a pioneer in impact investing, is pleased to announce its second sustainable infrastructure fund has successfully exited a portfolio of four commercial and industrial solar projects developed by KDC Solar. KDC Solar is one of the largest private developers, owners and operators of commercial and industrial-scale power generation assets in New Jersey. North Sky sold the portfolio to a large aggregator of solar assets.
The projects began operating between June and December 2019, totaling 34.5 MWdc across four sites in New Jersey. The portfolio’s projects – the largest being a 23.5 MWdc fixed ground mount and solar canopy at Six Flags Great Adventure Amusement Park – align with UN Sustainable Development Goals 7 (affordable and clean energy), 8 (decent work and economic growth) and 11 (sustainable cities and communities). GoldenSet Capital Partners served as a sub-advisor on the investment.
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 energy storage. The investment in and sale of the KDC portfolio demonstrates North Sky’s ability to invest in projects that provide longevity and superior financial returns while establishing itself as a leader in the sustainable infrastructure sector.
About North Sky Capital Sustainable Infrastructure
North Sky Capital is a registered investment adviser and pioneer in impact investing. Now in its 24th year, North Sky has deployed more than $1.3 billion across more than 140 impact investments on behalf of its various impact funds. The firm has two flagship investment strategies: impact secondaries (private equity) and sustainable infrastructure. Both strategies support positive environmental and social change while targeting market rate investment returns. North Sky has been an active impact investor since the beginning of the modern era of private markets impact investing in 2005-6. The firm has offices in Minneapolis, Boston and Rotterdam. For more information, visit www.northskycapital.com.