Lacuna raises $50 million for investment in solar and storage development projects

Lacuna Sustainable Investments has raised $50 million to invest in development-stage solar and storage projects. Lacuna Sustain – able Investments is an investment management firm active in the development, financing and monetisation of renewable energy projects throughout North America. The new development fund investment allows it to substantially expand its investment-related activities. The fund will invest, generally, in the “risk capital” components of development projects – pre-construction equity, preferred equity and subordinated debt – and on limited occasions may invest in the direct senior debt component of the capital structure. Going forward, Lacuna will recycle capital from the sale of existing investments and obtain additional capital from project debt facilities on an as-needed basis.