Argo Infrastructure Partners has acquired a US solar portfolio of eight sites from NuGen Capital Management.
The mid-market-focused infrastructure investment manager has invested an unspecified amount to buy the commercial and industrial (C&I) solar assets, which comprise six sites in Massachusetts and two in New Jersey.
The acquisition expands Argo鈥檚 existing C&I solar platform to 196 operating sites with a combined capacity of 270MW.
Michael Madia, managing director of Argo Infrastructure Partners, said: 鈥淭his investment represents another step in expanding Argo鈥檚 commercial and industrial solar platform, and we look forward to partnering with NuGen to support the performance of these assets.鈥�
Jason Zibarras, managing partner and founder of Argo Infrastructure Partners, said: 鈥淐onsistent with our past successes, Argo continues to focus on deploying capital in the compellingly large mid-market infrastructure space.鈥�
David Milner, CEO and founder of NuGen Capital Management, said: 鈥淲e are proud to have developed and operated this high-quality portfolio and are pleased to partner with Argo.
鈥淎rgo鈥檚 long-term approach to infrastructure investing and demonstrated commitment to distributed generation make them a strong partner. We look forward to continuing to support their long-term performance as part of Argo鈥檚 growing C&I solar platform.鈥�
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