Fengate launches Fengate Distributed Generation Partners, closes on development partnership with 42 Renewables

HOUSTON, April 26, 2022 /PRNewswire/ - Fengate Asset Management ("Fengate") today announces closing on a new development partnership with 42 Renewables and the launch of Fengate Distributed Generation Partners. 

With a proven management team and unprecedented demand for renewable energy projects, Fengate Distributed Generation Partners is a new platform focused on acquiring, developing, constructing, and operating distributed generation ("DG") solar, DG solar plus battery storage, and DG battery storage projects. Target market segments include community solar; municipal, university, school district and hospital; commercial and industrial; and small utility-scale projects. 

Fengate's development partner in Fengate Distributed Generation Partners is 42 Renewables, led by Ja Kao, most recently President and CEO of Onyx Renewable Partners where she built a market-leading national DG solar platform. Ja also serves as a board member for the American Council on Renewable Energy.

"We are focused on building Fengate Distributed Generation Partners into a top-ten DG solar development company with a proven development team led by Ja," said Greg Calhoun, Managing Director, Infrastructure Investments, Fengate. "The DG market is fragmented and growing, and we are excited to deliver on our targets."

"We are thrilled to begin this new partnership with Fengate and look forward to creating a company that contributes meaningfully to the goal of building accessible clean energy for all stakeholders," said Ja Kao, 42 Renewables.

Fengate is managing this partnership on behalf of its infrastructure investors, including an investment fund owned by the LiUNA Pension Fund of Central and Eastern Canada.

About Fengate Asset Management
Fengate is a leading alternative investment manager, with $5.8 billion of capital commitments under management, focused on infrastructure, private equity, and real estate strategies. With offices in Toronto and Oakville, Ontario, and Houston, Texas, Fengate is one of the most active real asset investors in North America and the firm has been investing in infrastructure across North America since 2006. Learn more at fengate.com.

SOURCE Fengate Asset Management