Lacuna Obtains $50 Million to Capitalize in Development-Stage Solar, Storage

Lacuna Sustainable Investments has announced that it has secured $50 million to capitalize in development-stage solar and storage projects.

Lacuna will use the funding to support the "risk capital" components of development projects, including pre-construction equity, preferred equity and subordinated debt. On limited occasions, it could also invest in the direct senior debt component of the capital structure, the announcement says.

"The fund allows us to place greater emphasis on investment-related activities and increase our role as an originator and investor in development projects," commented co-founder David Riester.

The company also noted that going forward it will reutilize capital from the divestment of current investments and seek to secure additional capital from project debt facilities.