Soros Spinoff Invests $150 Million to Back Solar, Gas Projects
By Christopher Martin
Oct. 17, 2019, 11:00 AM
Newlight Partners LP, which spun out of Soros Fund Management LLC, is investing $150 million in a startup that backs U.S. renewable energy projects.
The investment in Leyline Renewable Capital LLCwill allow the Durham, North Carolina-based company to fund loans to solar farms and renewable natural gas projects, according to a statement Thursday.
Many traditional lenders have shied away from renewable gas -- typically derived from animal waste and landfills -- in part because its can can cost up to three times as much as conventional gas, according to BloombergNEF.