Syncarpha Capital closes $250 million solar investment program

Syncarpha Capital, in partnership with a private family office, has begun a new $250 million solar program and has closed a new tax equity fund with a major U.S. commercial bank.

Syncarpha began a program with a private family office to rapidly deploy $250 million of sponsor equity for distributed solar in North America.

Syncarpha, as manager, is looking to expand its network of developers who have a strong pipeline of U.S. solar projects.

Syncarpha will partner with solar developers to quickly complete development or acquire late stage or Notice to Proceed (“NTP”) development projects while supplying the entire capital stack using several proven financing structures.

Syncarpha has closed a new tax equity fund with a major U.S. commercial bank. This is Syncarpha’s second tax equity fund with this institution and it will be used to support our latest solar program in Massachusetts. The bank is a leader in providing tax equity to distributed generation solar development projects throughout the U.S.

“As distributed generation grows into an important asset class, our team and our partners are highly motivated to put significant dollars to work in this large and fast growing market. This is a high return category with inherently good credit and duration that is uncorrelated with traditional asset classes,” said Richard Turnure, managing partner of Syncarpha Capital.