North Sky Capital's Alliance Fund II announced that it has completed its first investment, a $25 million capital facility that will finance the development of solar PV power plants by Cypress Creek Renewables, LLC.

The investment will support the construction of several hundred megawatts of renewable energy projects throughout North Carolina, South Carolina, Oregon, Indiana and Texas.

New Energy Capital acted as a sub-advisor with respect to this investment. "Cypress Creek is one of the premier developers in the U.S. and we look forward to helping them build out their portfolio of projects," noted Scott Brown at New Energy Capital.

This is the second collaboration among the firms, as North Sky Alliance Fund I helped to finance a similar tranche of solar PV projects totaling roughly 200 MWs earlier this year.

"This series of solar PV projects is designed to create many high-quality construction jobs and help transition America's energy mix to include more renewables," said Mike Pohlen of North Sky Capital.

Cypress Creek Renewables is a developer and long-term owner of solar energy projects with development assets in markets across the United States. Their business model is focused on utility-scale ground mount projects from 2-20 MWs in capacity. Cypress Creek Renewables is an industry leader in providing local solar energy and has extensive solar PV development experience.

North Sky Capital is an independent registered investment adviser that was established in 2000 and is based in Minneapolis, MN. For more information, visit www.northskycapital.com.