JLC Infrastructure Welcomes Allstate in Solar Development Partnership
Chicago (Jan. 27, 2021) – Allstate Investments has partnered with JLC Infrastructure in acquiring an indirect interest in Greenskies Clean Focus, a JLC portfolio company. Greenskies is a leading developer of commercial and industrial (C&I) solar-power facilities in the U.S. Greenskies operates a fully integrated development platform that originates, designs, constructs, finances, owns and maintains solar and solar plus storage projects. Greenskies owns over 50 MW of contracted operating projects and controls an attractive portfolio of over 150 MW of contracted solar projects to be delivered over the next 18 months.
“We are excited to partner with JLC on this investment, as Greenskies’ renewable energy focus and pipeline of projects aligns with Allstate’s responsible investing focus, which considers ESG- related factors,” said Reynold Martin, managing principal for Allstate Investments. “Our partnership with JLC, an investment manager with long-standing experience in renewable energy, also reflects Allstate’s focus on supporting diversity in financial services.”
The Greenskies team has delivered over 350 MW of rooftop, carport and ground-mount solar projects, ranging in size from 100 kW to over 25 MW, in 19 states across the U.S. Customers include large retailers, technology companies, municipalities, schools, universities and electric utilities. In addition to operating successfully completed projects, Greenskies, through its in- house operations and maintenance (O&M) group, also provides O&M services to third-party owners of solar facilities.
“JLC is pleased to welcome Allstate and its broad renewable investment experience to the Greenskies platform. Together with Allstate, we look forward to supporting Greenskies in its continued efforts to offer sustainable and reliable energy products to commercial and municipal customers, large and small, in line with our shared commitment to investing in communities we serve,” said Rob Keough, Head of Investments at JLC Infrastructure.
“We are delighted to expand further our relationship with Allstate, an outstanding corporate citizen which shares core values of equity and inclusion that are fundamental to JLC’s investment strategy,” commented Jim Reynolds, Managing Partner of JLC Infrastructure and Chairman and CEO of Loop Capital.
About JLC Infrastructure
JLC Infrastructure is an investor and asset management firm focused on the sustainable energy, utilities, transportation and social infrastructure sectors in the U.S. The firm was formed in 2015 by Earvin “Magic” Johnson of Magic Johnson Enterprises and Jim Reynolds of Loop Capital. JLC has a broad network of long-standing relationships with municipalities, governments, infrastructure companies, strategic partners, advisors and financing providers throughout the country and seeks to invest in critical infrastructure projects which provide long-term benefits to the communities they serve. For more information, please visit www.jlcinfra.com.
Greenskies develops, finances, constructs, owns and operates clean, renewable-energy projects in the United States. From beginning to end – origination through construction and then lifetime operation – customers work with a single delivery team. Greenskies, through its development and operating subsidiaries, offers integrated solar and battery-storage solutions to C&I, municipal and utility customers. Greenskies was founded in 2009 and joined JLC Infrastructure’s group of companies in 2019. Greenskies has constructed and operates over 260 MW of C&I solar projects throughout the country. The company was Ranked #1 by Solar Power World in 2019 for cumulative commercial installations.