Captona and South Jersey Industries purchased their fourth acquisition from their Catamaran Renewables joint venture. The acquisition included a 5.66MW solar array and a 5.2MWh storage facility in Agawam (Mass). Prior to the acquisition, Catamaran’s portfolio included solar and fuel cell assets.
Catamaran Renewables bought the Agawam Solar and Storage projects from Consolidated Edison Solutions Inc.. Consolidated Edison Solutions Inc. is an energy services company. The facility has qualified for the Massachusetts SMART program – a tariff-based incentive program for eligible solar technology assets – ensuring a strong return on investment as the facility continues to provide clean power to over 100 C&I community subscribers in Western Massachusetts.
Catamaran is utilizing Captona’s internal asset management and engineering teams to manage the portfolio’s day-to-day operations.
“Captona’s partnership with South Jersey Industries continues to push the boundaries of the energy transition as we add new technologies to our fleet. Investments in base-load technologies that promote grid stability and positively impact the community are at the forefront of Captona’s decarbonization mindset,” remarks Izzet Bensusan, Captona’s managing partner and founder. “We are excited for what 2022 has in store for our partnership as Catamaran continues to invest in and grow our renewable energy and clean fuel portfolio.”