Sea Oak Capital Acquires 3.5 MW Solar Portfolio from Clean Footprint
NEWS PROVIDED BY
Sea Oak Capital, LLC
April 16, 2019, 10:00AM ET
VERO BEACH, FL., April 16, 2019 – Sea Oak Capital, LLC (“Sea Oak”) has completed the acquisition of a 3.5 MW portfolio of solar development assets from Clean Footprint. The Massachusetts portfolio is comprised of greenfield and landfill solar development projects for the SMART program.
“This transaction solidifies our relationship with a key development partner and expands our footprint in a core market,” said Dan Poydenis, Chief Executive Officer of Sea Oak. “We have a deep understanding of the SMART program and are actively seeking more SMART projects in support of our 2021 mandate of 100MW of operating solar projects under management.”
Sea Oak is a tax-efficient private equity firm specializing in renewable energy investments that can self-monetize the investment tax credits and depreciation benefits generated by such projects. The firm acquires operating and substantially developed photovoltaic projects through a variety of transactional structures. It also deploys development capital to qualified partners in order to enhance its pipeline by partnering with project originators and developers early in a project’s life. Click HERE to submit a project opportunity for initial underwriting by a Sea Oak analyst.
“We are very excited to have closed on this portfolio with Sea Oak,” said John Porter, Chief Executive Officer of Clean Footprint. Clean Footprint is a leading solar developer specializing in the development and design of commercial and industrial roof, ground and canopy solar systems in Massachusetts. “Having access to tax-efficient capital and a strong financial partner like Sea Oak is key to successful solar development.”