Aligned Climate Capital, a NYC- and Burbank, CA-based asset manager investing exclusively in the companies and projects driving the clean energy transition, closed its sixth distributed solar fund, Aligned Solar Partners 6 LP (ASP6), with commitments above the $200m target fund size.
ASP6 achieved final close with participation from institutional investors in the U.S. and globally, including insurance companies, endowments, foundations, and family offices.
ASP6 acquires construction-ready distributed solar projects from development partners across the U.S., finances their build-out, and delivers returns through tax credit monetization, operating income distributions, and portfolio sales to institutional infrastructure investors.
The fund has already placed more than 25MW of distributed solar projects in service in Maine and Washington, D.C. ASP6 has also acquired additional solar projects in other states, which are under construction or scheduled to begin over the next two years, with the majority of the Fund’s capital committed to these assets. It is scheduled to make its initial cash distribution to investors in 2025 and plans to make annual cash distributions going forward, before selling the operating portfolio to institutional investors following the tax recapture period.
Aligned Solar Partners (ASP) is Aligned’s primary infrastructure strategy, which has been investing capital in the “middle market” of solar since 2018. To date, the firm owns and operates more than 65 MWdc of projects across seven states. It finances construction with a combination of equity and construction debt, then monetizes the tax credits and secures long-term, low-cost permanent debt.
Led by Peter W. Davidson, CEO, Aligned has been investing in the distributed solar market since 2018. It acquires solar projects ranging from 1 MWac to 10 MWac from development partners across the U.S. Many of these developers have collaborated with Aligned on multiple projects over the years. The firm prioritizes development partners with a consistent track record of delivering financially viable, construction-ready assets. One such partner, Rewild Renewables, developed two of the Fund’s current projects in Delaware.
Aligned also operates the Aligned Climate Fund, which provides capital to venture-stage companies deploying and scaling established clean energy solutions.
FinSMEs
13/05/2025