Carlyle Group commits $100M to new solar initiative

Source: By Brian Eckhouse, Bloomberg • Posted: Wednesday, January 29, 2020

Carlyle Group Inc. is committing $100 million toward a new solar initiative.The Washington-based firm is partnering with clean-power company Alchemy Renewable Energy to develop, buy, finance and operate solar projects in the U.S.

The initiative will focus on projects between 5 megawatts and 80 megawatts, said Pooja Goyal, head of Carlyle’s renewable and sustainable energy team and co-head of its infrastructure group.

“There’s a lot of opportunity when it comes to smaller renewable-energy projects,” she said in an interview. “That part of the market is very fragmented.”

Alchemy Renewable Energy is backed by Monarch Private Capital, which has placed over $1.5 billion of tax credits since 2005, according to a statement yesterday. It has a portfolio of 38 renewables projects in development or operation across eight states.