Carlyle Group to invest US$100m in US solar

Private equity giant Carlyle Group intends to invest US$100 million in developing, acquiring, financing and operating US solar projects through a new partnership with Missouri-based firm Alchemy Renewables. The Carlyle Group will invest through its new affiliate, Cardinal Renewables. Alchemy Renewables will provide asset management services, place tax equity financing and manage operations and maintenance services while Cardinal Renewables will acquire projects. Alchemy Renewables claims it has been involved in the development, construction and operation of more than 850MW since its founding in 2016. It is a subsidiary of Monarch Private Capital, an Atlanta-based firm that invests in projects that qualify for federal and state tax credits.