The Virginia Retirement System (VRS) has committed $100 million to Aplomado Partners, a closed-end fund focusing on solar ground leases in the United States.
Aplomado is a Dallas-based energy investment firm focused on acquiring land and leases under solar projects throughout the United States. Aplomado partners with solar developers by providing capital to procure the land needed for a solar project in the early development stages when capital is at highest risk, according to the firm’s website.
The real assets commitment closed on May 18, according to board materials from VRS’s June 10 meeting.
