KIMMERIDGE CARBON SOLUTIONS COMMITS $15 MILLION TO US LIGHT ENERGY - A HIGHLY REGARDED DEVELOPER OF COMMUNITY SOLAR SOLUTIONS

Investment will accelerate sustainable solar development in core market of NY, while empowering expansion into other states

NEW YORK, Sept. 11, 2023 /PRNewswire/ -- Kimmeridge, an alternative asset manager focused on the energy sector, today announced an investment of $15 million in US Light Energy, a distributed generation solar developer, specializing in community solar projects across the United States. The investment was made through Kimmeridge Carbon Solutions, a dedicated fund focused on investments at the front end of the carbon abatement cost curve. 

Kimmeridge's investment in US Light Energy underscores the tremendous potential of the solar energy sector, and the strong returns available to project developers that can assemble early-stage projects. As the renewable energy market continues to evolve, the United States is poised for significant growth in community solar energy generation, with new markets opening up in California, Nevada, and New Mexico. Kimmeridge will be at the forefront of this transformative industry by partnering with and accelerating the company's growth trajectory.  

Mark Richardson, CEO of US Light Energy, expressed his enthusiasm about the collaboration with Kimmeridge: "We couldn't be more excited to partner with Kimmeridge. Kimmeridge's reputation as a proven, value-oriented investor with strong knowledge of the energy sector aligns seamlessly with our vision. The partnership will advance our mission of providing clean, community-driven solar energy solutions in New York, while empowering expansion into other states with burgeoning community solar programs."

Henry Makansi, Managing Partner at Kimmeridge, commended the quality of the US Light Energy team and portfolio, stating, "US Light Energy is ideally situated, with a talented team, deep expertise and a robust portfolio of community solar projects. We are excited to partner with them on this journey, leveraging their expertise in distributed generation solar to create long-term value for all stakeholders."

About US Light Energy:

U.S. Light Energy is a New York-based distributed generation energy development company specializing in Community Solar and Utility scale solar generating and energy storage facilities. U.S. Light Energy also offers renewable energy offtake solutions for residential, small and large commercial, industrial, and municipal customers. With thirty years of experience, U.S. Light Energy has developed a unique feasibility process in which to analyze multiple aspects of every property to drive the most value per acre while positioning a project for success.

For more information about US Light Energy, please visit uslightenergy.com.

About Kimmeridge:

Founded in 2012 by Ben Dell, Dr. Neil McMahon, and Henry Makansi, Kimmeridge is an alternative asset manager specializing in the energy sector. Kimmeridge's direct investment approach, deep technical knowledge, active portfolio management, and proprietary research and data gathering set the firm apart in the industry. The Kimmeridge Carbon Solutions fund focuses on sustainable and value-driven investments in the energy sector, and has a made a series of targeted investments, including Chestnut Carbon, Landgate, and Common Energy.

For more information about Kimmeridge, please visit kimmeridge.com.

Media Contacts

US Light Energy:

Gina Marie Cannistraro
GCannistraro@uslightenergy.com
518-288-7800 ext. 108

Kimmeridge: 

Daniel Yunger / Hallie Wolff / Emma Cloyd
Kekst-Kimmeridge@kekstcnc.com
917.574.8582 / 917.842.1127 / 646.629.1191

SOURCE Kimmeridge