Captona, a North America-focused investment company specializing in power generation and energy infrastructure assets, formed Catamaran Renewables, a 50:50 joint venture between Captona and SJI subsidiary Marina Energy, to develop, own and operate renewable energy projects.
The Catamaran joint venture brings over 1.3 GW of combined operational experience across all types of renewable energy and transactional experience above $1 billion in the renewable energy industry.
The joint venture also announces its first acquisition in the vehicle, a 7.5 MW fuel cell portfolio in Staten Island, New York from NineDot Energy, a renewable energy developer based in the NYU Urban Future Lab cleantech incubator in Brooklyn, NY.
The projects are currently under construction and scheduled to be placed into service this year. All project revenue qualifies under New Yorkโs VDER program.