Cenergy Power ("Cenergy" or the "Company"), a national-scale solar developer, announced the closing of a preferred equity investment from Aiga Capital Partners ("Aiga"). Cenergy specializes in the development, construction management, ownership and operation of small utility-scale, community solar, and commercial and industrial solar assets.
The preferred equity investment supports the development of Cenergy's 300+ MW portfolio of solar assets, which includes more than 50 MWs of operating and in-construction projects in Maine, Illinois and California. The investment underpins the Company's goal of establishing its presence as an independent power producer while also selling projects to trusted partners.
William Pham, CEO of Cenergy, said, "Aiga's investment arrives at an inflection point for Cenergy, as we position ourselves to not only grow our development platform, but also strengthen our ability to own and operate solar assets. We are excited to start the partnership with Aiga at this defining moment in our 19-year history, and to leverage Aiga's well-known finance and development expertise in renewable energy to get us to the next level of our corporate journey."
Rory Meyers, Managing Partner of Aiga, added, "Cenergy's differentiated culture emphasizes the value of partnership and collaboration. Their entire team is committed to the local communities in which the Company operates, which has resulted in a high-quality portfolio of solar projects throughout the U.S. Aiga is excited to partner with Cenergy's management team, bringing our extensive renewables experience, relationships and capital to support Cenergy's differentiated platform so it can continue to scale its solar development and operations platform."
