M&A team represents S2G Ventures in community solar growth equity investment

Norton Rose Fulbright represented S2G Ventures (S2G), a leading multi-stage investment firm focused on the energy transition, food, agriculture and oceans, in its growth equity investment in community solar and distributed renewables platform 38 Degrees North (38DN), which will acquire community solar assets from Community Power Group (CPG).

The investment from S2G will allow 38DN to accelerate its growth by partnering with local communities, customers and community and distributed solar and storage developers to deploy capital into assets across the development spectrum. It will also acquire a portfolio of 10 community solar projects with 62 MW in New York. 38DN currently manages more than 400 MW across over 100 projects through partnerships with institutional investors.

S2G structures flexible capital solutions ranging from seed and venture funding through growth equity to debt and infrastructure financing. The company’s investment into 38DN establishes a foundation for the community solar platform as 38DN goes to market for tax equity and debt raises this year.

Norton Rose Fulbright’s team was led by Becky Diffen (Austin) and Anastasia Slivker (New York) and also included Marjorie Glover, Aara Tomar (New York), Hani Ghattas, Zach Scott (Houston), Alexander Clark (Dallas), Phillip Di Tullio (Los Angeles) and Hilary Lefko (Washington, DC).