October 5, 2010
SJF Invests in Community Energy, Inc.
SJF Ventures, joined by NGP Energy Technology Partners (NGP ETP), completed a Series A Preferred Stock investment in Community Energy, Inc. (CEI), a leading renewable energy developer and marketer. The investment will fund CEI’s plan to expand its pipeline of utility scale solar generation projects under development in the Northeast, Mid-West, and West. SJF Ventures led the Series A investment totaling $4 million, with an option to invest another $2 million. “We liked the seasoned leadership team at CEI, and their 10-year track-record of success in early-market renewable energy development and renewable power marketing,” said David Kirkpatrick, Managing Director of SJF Ventures, who has joined the CEI Board of Directors. “The solar power market is just opening up at scale, and we look forward to advancing that market with Community Energy.”
Read more about the transaction on the CleantechInvesting.com blog and see the press release here.