WESTPORT, Conn., April 25, 2023 /PRNewswire/ — True Green Capital Management LLC (“TGC”), a renewable energy infrastructure investment firm, is pleased to announce the recent closing of a controlling investment in Faradae SAS (“Faradae”), together with project capital, to support the company’s growth in the French distributed solar market. Faradae is an independent producer of renewable energy headquartered in Lyon, France, targeting French real estate investment funds (“REITs”) and other corporate clients for solar installations. This investment, TGC’s first in Europe, was financed by TGC’s fourth fund, True Green Capital Fund IV, L.P. (“Fund IV”).
“Faradae shares our fundamental conviction that distributed solar generation is the most attractive segment of our industry,” explained Panos Ninios, managing partner and co-founder of TGC. “Our collaboration paves the way for our rapid development in the distributed solar power market in France.”
“We are excited to take Faradae to the next phase of growth. We have been impressed with TGC’s experience and operational capabilities in the space of distributed solar generation,” said Tom Lawson, CEO and Co-Founder of Faradae. “For us, TGC has proven to be about much more than money: their experience and insight are not that common among infrastructure investors.”
“The timing is perfect for behind-the-meter solar,” added Tom Lawson. “Our facilities supply energy to our customers’ buildings, shielding them from the volatility of energy prices. Prices in Europe have risen very fast and have become unstable. In addition, the new regulations specifically favor solar installed behind the accountant against larger projects”.
Leveraging its recently closed $660 million Fund IV, TGC continues to focus on the major distributed renewable generation markets in North America, as well as select new markets in the United Kingdom and the European Union, where the company believes its experience and investment capacity in distributed generation in the United States translate well, giving you a competitive advantage in these evolving markets.
Jones Day (David Swinburne, Adrien Descoutures, Kévin Bousset) has acted as legal counsel to TGC and Edwards
About True Green Capital Management LLCTGC is a renewable energy infrastructure investment firm headquartered in Westport, Connecticut. Having developed the capabilities of a direct operating company, TGC has raised four private equity funds with more than $1 billion of capital in total, including the May 2022 closing of its fourth fund with $660 million of capital that will be invested in the next four years. To date, TGC has invested in distributed solar power generation portfolios in 14 US states that supply clean and reliable renewable energy, with an increasing focus on the UK and the European Union. The company was founded in July 2011 and is led by a team of investment professionals with a proven track record and the demonstrated ability to source, finance, build, operate and sell distributed renewable energy generation assets on an institutional scale. For more information, visit https://truegreencapital.com/.
About Faradae SASFaradae, headquartered in Lyon, France, creates, develops, owns and operates solar power generation systems that supply hospitality, healthcare and office buildings in France. It assists property owners in their search for cost-effective solutions to meet their energy efficiency goals, decarbonize their portfolio of assets, and contribute to the nation’s energy independence. Visit www.faradae.com for more information.
True Green Contact:
Christina AnzelDirector of Investor Relations and ESGMobile: 1 917 608 3550media@truegreencapital.com
Faradae Contact:
Anne Valette DaiMóvil: 33 7 75 26 12 43anne@faradae.com
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