North Sky Capital has completed the initial investment for its Sustainable Infrastructure Fund IV (SIF IV), a $10 million commitment to a joint venture with Orenda Power.
Orenda is a utility-scale battery storage developer in New York City and surrounding counties.
While this preferred equity stake represents the first investment out of SIF IV, North Sky has a longstanding relationship with Orenda, focused on the development of local battery energy storage system projects. The joint venture currently owns more than 40 battery project sites rated for more than 200 megawatts of power, which helps work toward New York’s goal of a zero-emission grid by 2040 and contributes customer resilience and cost savings, as well as improved public health due to reduced exposure to fossil fuel pollutants.
With SIF IV’s commitment, North Sky funds now have a total commitment of $42.5 million to Orenda and together will continue to support the development and deployment of Or
