NEW YORK, Nov 10 — Captona, a leading energy investment firm in North America, today announced its latest preferred equity investment through a project finance partnership with Sunrun, Inc. (“Sunrun”), America’s largest provider of home battery storage, solar and home-to-grid power plants.
Through the partnership, Captona has invested preferred equity at the individual project level in 9,400 residential solar and battery storage projects across more than 20 states, representing 74 MW of solar generation and 110 MWh of battery storage. Preferred equity investment vehicles are the latest innovation in project finance structures for renewable infrastructure assets, facilitating efficient tax credit monetization and senior debt placements.
“Our partnership with Sunrun marks the next chapter in Captona’s evolution as a premier investment partner in the energy transition,” said Izzet Bensusan, Founder and CEO of Captona. “We’re proud to work alongside one of the largest companies in the sector as we continue to grow and scale our business, expand our investment portfolio and build on the relationships we’ve established with industry leaders.”
Since introducing its preferred equity structure in 2023, Captona has continued to expand its program through investments with leading renewable energy developers, including a recent transaction with Nexamp. While maintaining the same underlying investment approach, the Sunrun partnership extends Captona’s program into residential solar and storage, demonstrating the flexibility and scalability of its preferred equity structure across different types and sizes of renewable energy projects.
Kirkland & Ellis LLP served as legal advisor to Captona, while Wilson Sonsini Goodrich & Rosati LLP served as counsel to Sunrun.
