38 Levels North has closed on a progress fairness funding from S2G Ventures (S2G), and likewise entered into an settlement to amass group photo voltaic belongings from Group Energy Group in New York.
Based in 2015, the corporate has aggregated, financed, constructed and managed greater than 400 MW throughout over 100 initiatives via institutional investor partnerships.
“S2G is worked up to be partnering with the business veterans at 38 Levels North to assist drive the subsequent part of the corporate’s progress,” says Priyanka Duvvuru, principal at S2G. “We proceed to be impressed by the administration staff’s considerate structuring method, intensive execution expertise and demonstrated resilience via historic uncertainties within the photo voltaic market, which we imagine positions the platform nicely for the longer term.”
With the CPG settlement, 38 Levels North will purchase a portfolio of 10 group photo voltaic initiatives, totaling 62 MW, in New York state.
As a part of the transaction, S2G’s Priyanka Duvvuru and Francis O’Sullivan will be part of 38 Levels North’s board of administrators.
Norton Rose Fulbright was authorized counsel for S2G and Vinson & Elkins served as 38 Levels North’s authorized advisor.
