Captona Forms Catamaran Renewables, a Joint Venture with South Jersey Industries; Announces 7.5 MW Fuel Cell Portfolio Acquisition in New York

News provided by

Aug 24, 2020, 09:45 ET

NEW YORK, Aug. 24, 2020 /PRNewswire/ -- Captona, a North America-focused investment company specializing in power generation and energy infrastructure assets, today announced the formation of Catamaran Renewables (Catamaran), a 50/50 joint venture between Captona and SJI (NYSE: SJI) subsidiary Marina Energy, to develop, own and operate renewable energy projects.

The new Catamaran joint venture brings over 1.3 GW of combined operational experience across all types of renewable energy and transactional experience above $1 billion in the renewable energy industry.

The joint venture also announces its first acquisition in the vehicle, a 7.5 MW fuel cell portfolio in Staten Island, New York from NineDot Energy, a renewable energy developer based in the NYU Urban Future Lab cleantech incubator in Brooklyn, NY.

The projects are currently under construction and scheduled to be placed into service this year. All project revenue qualifies under New York's VDER program.

"Captona is thrilled to partner with SJI and leverage our strengths to continue investing in renewables in North America," said Izzet Bensusan, Managing Partner and Founder of Captona. "We are excited about our added competitive edge, now offering a full capital stack and technical know-how in house."

Catamaran Renewables will be an active owner in solar, wind, fuel cell and other clean energy projects.

Please visit catamaranrenewables.com for more information

About Captona

Captona is a North America-focused investment company specializing in power generation and energy infrastructure assets. The Firm actively pursues risk-adjusted returns from acquisitions of operating and development assets within the North American power sector and aims to create value through technical and financial restructuring.

SOURCE Captona