Actis agrees to invest up to USD 300m in DG developer Catalyze

03/02/2023 - Mergers & Acquisitions | Origination

Global infrastructure investor Actis agreed to invest up to USD 300m in distributed generation developer Catalyze, according to a press release.

The investment will result in Actis sharing a co-control stake in the company alongside incumbent investor EnCap Investments.

NPM had reported in November 2022 that RBC Capital Markets had been hired by EnCap to raise equity capital for Catalyze.

Catalyze develops, owns and operates distributed commercial and industrial (C&I) solar and battery storage infrastructure across 30 US States under long-term power purchase agreements and energy-services contracts. The company partnered with EnCap in 2019 and has since become well-positioned to emerge as a national leader in the C&I solar and storage space, one of the most attractive and fast-paced growth segments of the US renewables market.

The investment, Actis first in the US, will come out of its Energy Fund 5.

By partnering with EnCap, Actis will provide funding to accelerate the continued growth and scale of Catalyze.

Alongside RBC, Latham & Watkins advised EnCap. Actis used Nomura Greentech as its sole financial advisor and Kirkland & Ellis as legal counsel.

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