Marathon Capital Advises NorthStar Clean Energy on Financing for Branch and Genesee Solar Projects

FOR IMMEDIATE RELEASE

Ann Arbor, Michigan – Marathon Capital and NorthStar Clean Energy announced the successful tax equity financing and tax credit sale for NorthStar’s Branch Solar and Genesee Solar projects in Michigan. The Branch Solar project, a 200 MWac facility in Branch County, will be NorthStar’s largest solar asset to date, and the Genesee Solar project, a 41 MWac facility in Genesee County. 

The transactions advance NorthStar’s buildout of its U.S. renewable energy portfolio and reflect the market’s confidence in the company’s ability to develop, finance, and operate high quality clean energy assets at scale.

Marathon Capital served as financial advisor to NorthStar, supporting the structuring and execution of the financing packages for both projects. The financings are designed to optimize capital efficiency and accommodate NorthStar’s long-term ownership strategy.

“We’re proud to have advised NorthStar Clean Energy on these milestone transactions for Branch and Genesee,” said Wayne Chomitz, Managing Director, Marathon Capital. “NorthStar is a well-established developer and independent power producer with a strong track record. Their disciplined approach to development and operations, combined with deep market expertise and relationships, made for highly efficient processes and robust investor interest.”

“Branch and Genesee demonstrate our ability to move efficiently from development through financing into construction and operations,” said Brian Hartmann, President & CEO of NorthStar Clean Energy. “As a seasoned developer and independent power producer, NorthStar leverages extensive lender, tax equity, tax credit transfer, and offtake relationships to deliver bankable structures that lower cost of capital and create long-term value for our customers and investors. Marathon Capital’s market reach and execution expertise were instrumental in achieving attractive outcomes on both projects.”

By providing low-cost carbon free power, the projects support local economies, reduce energy costs, and contribute to the customers’ long-term energy and sustainability goals. 

About Marathon Capital:

Marathon Capital is the largest independent investment bank dedicated to servicing the clean economy. Throughout its 25-year history, the firm has played a pivotal role in many of the groundbreaking and transformative transactions for new and emerging sectors, consistently delivering exceptional results for its clients. The firm is a leading global financial adviser across M&A, equity capital markets, debt capital markets, tax equity and taxcredits, offtake, and energy transition. Marathon Capital is headquartered in Chicago, with offices in New York, Houston, San Francisco, San Diego, London, and Calgary with local presence in Madrid and Seoul.

Media Contact: Andrea Rosko

Head of Marketing & Communications
arosko@marathoncapital.com

About NorthStar Clean Energy:

NorthStar Clean Energy, a subsidiary of CMS Energy, founded in 1987 helps companies with ambitious sustainability targets decarbonize through customized energy solutions. NorthStar Clean Energy owns and operates over 2 gigawatts of generating capacity across the United States, including solar installations in Michigan, Ohio, and Arkansas, wind assets in Texas and Ohio, natural gas and co-generation facilities in Michigan, and biomass plants in Michigan and North Carolina and has a development pipeline of more than 1 gigawatt of renewable energy. 

Media Contact: Suzanne Vincent
Marketing & Communications Director
Suzanne.vincent@nsce.com