Activate Renewables buys solar easements in N Carolina, Texas

US real estate and royalties investor Activate Renewables said Tuesday that it has completed the purchase of a real estate portfolio related to five solar projects located across North Carolina and Texas.

The real estate interests were acquired from Alchemy Renewable Energy, the renewable energy division of Monarch Private Capital. Financial details were not provided.

“We are pleased to support Alchemy’s business goals with this initial transaction. We look forward to a continued relationship, whereby Alchemy can enhance its capital efficiency by selling real estate interests to Activate,” Activate Renewables’s president Maria Klutey said.

Activate is funded by DE Shaw Renewable Investments (DESRI), a renewable energy projects developer launched by US hedge fund DE Shaw & Co. The company in August closed the acquisition of a portfolio of wind and solar property leases that can support over 115 MW of total renewable energy generation capacity.

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