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38 Degrees North is formed in Sausalito, California

FALL 2016

Close on first acquisition of 31 MW of Massachusetts community solar projects, purchased from Zero Point Development and Pro Tech Energy Solutions. Established equity partnership with John Hancock Life Insurance.

FALL 2018

Acquire 5 behind-the-meter battery storage projects from Advanced Microgrid Solutions. Transitioned operations management to EnelX in summer 2020.

Worked with Advantage Capital and SunShare Community Solar on a 7 MW community solar project in Minnesota.

Partner with Generate Capital on the acquisition of portfolio of New York community solar projects developed by Cypress Creek Renewables.

Ryan Bennett, Jake Carney and Chris Bailey manage the project finance leadership organization of SunEdison and TerraForm Power, managing well over $8 billion of asset financings and enabling gigawatts of residential, commercial and utility scale project financings.


Complete tax equity financing with Tax Equity Advisors on behalf of a Fortune 500 media corporation for the Massachusetts portfolio, which along with sponsor equity contributions represents over $100 million of equity financing.


Expand partnership with Generate Capital with the acquisition of a + 70 MW portfolio developed by Delaware River Solar.

FALL 2019

Close on first and second tax equity facilities for our New York community solar projects providing funding for 50 MW of projects.

SRING 2020

Close two back leverage debt facilities for our New York community solar projects with the New York Green Bank.


FALL 2020

Execution of $100mm tax equity fund with Starbucks Coffee Company enabling 90 MW of our New York community solar projects. Additional expansion of purchase commitments and development financings with New York developer partners.

Close development capital facility with New York community solar developer to fund early and mid-stage project development.


2021 - FALL 2023

Close 3 repeat tax equity transactions with single investor totaling nearly $150 million. Execute on project debt facilities of nearly $140 of permanent debt. New York community solar portfolio reaches over 340 MW.

Enter into market leading community choice aggregation contract with Joule Community Power.

Execute purchase agreements with additional New York community solar developers, expanding footprint and pipeline in the state. Complete third portfolio debt financing with the New York Green Bank.

FALL 2023

Enter into purchase agreement with Community Power Group to develop and own additional 62 MW community solar portfolio.

Close corporate investment with S2G Ventures to enable platform growth.

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