Shearman & Sterling advised South Jersey Industries (SJI) in the formation of Catamaran Renewables, a joint venture between SJI subsidiary Marina Energy and Captona, to develop, own and operate renewable energy projects. The joint venture partners announced the acquisition of two fuel cell projects in Staten Island, New York from NineDot Energy. The projects are currently under construction and scheduled to be placed into service in the Fall of 2020.
SJI, an energy services holding company based in Folsom, New Jersey, delivers energy services to its customers. SJI’s businesses within South Jersey Energy Solutions promote efficiency, clean technology and renewable energy by providing customized wholesale commodity marketing and fuel management services and developing, owning and operating on-site energy production facilities. Marina Energy, part of South Jersey Energy Solutions, is in the business of designing, financing, building and operating energy-related projects with a specialty in solar energy projects.
Captona is a North America-focused investment company specializing in power generation and energy infrastructure assets. Captona is an expert in the development, ownership and operation of renewable projects.
NineDot Energy is an experienced renewable development company based in the NYU Urban Future Lab cleantech incubator in Brooklyn, NY.