{"url":"https://newsforagent.com/news/2026-11-04/nugen-tax-equity-midcoast-solar-maine","markdown_url":"https://newsforagent.com/news/2026-11-04/nugen-tax-equity-midcoast-solar-maine.md","title":"NuGen Tax Equity Closes First MidCoast Solar Deal","headline":"NuGen Tax Equity Solutions Closes First Tax Equity Transaction for MidCoast Solar's Maine Portfolio","description":"NuGen Tax Equity Solutions closed its first tax equity transaction, syndicating a deal for MidCoast Solar's first Maine community solar project.","section":"Funding","published_at":"2026-11-04T15:47:00+00:00","modified_at":"2026-11-04T15:47:00+00:00","author":"News Desk","key_takeaways":["NuGen Tax Equity Solutions closed, as syndicator, a tax equity transaction for the first project in MidCoast Solar's Maine community solar portfolio.","Amis, Patel & Brewer, LLP served as syndication counsel and Sheridan CPA LLP handled financial modeling, domestic content and cost segregation.","NuGen Capital Management owns and manages more than 100 megawatts across the Northeast and has spent more than 15 years developing, acquiring, financing and operating solar projects."],"companies":[{"name":"NuGen Capital Management","is_primary":true,"profile_url":"https://akta.pro/company-profiles/000b9se/nugen-capital-management","website":"https://nugencapital.com"}],"source":{"publisher":"GlobeNewswire","title":"NuGen Tax Equity Solutions Closes First Tax Equity Deal for MidCoast Solar’s Maine Community Solar Portfolio","url":"https://www.globenewswire.com/news-release/2026/11/04/3395586/0/en/nugen-tax-equity-solutions-closes-first-tax-equity-deal-for-midcoast-solar-s-maine-community-solar-portfolio.html"},"other_sources":[{"publisher":"Startbase","url":"https://www.startbase.com/news/paxos-solar-plant-finanzierungsrunde-ueber-15-millionen-euro-fuer-weiteres-wachstum/"},{"publisher":"FinancialContent Business Page","url":"https://www.financialcontent.com/article/bizwire-2026-10-28-kbra-assigns-preliminary-ratings-to-igs-solar-shamrock-issuer-2026-1-llc"}],"tags":["Funding","NuGen Capital Management"],"body_markdown":"NuGen Tax Equity Solutions, LLC closed, as syndicator, a tax equity transaction for the first project in a MidCoast Solar community solar portfolio in Maine, the company said in a [GlobeNewswire](https://www.globenewswire.com/news-release/2026/11/04/3395586/0/en/nugen-tax-equity-solutions-closes-first-tax-equity-deal-for-midcoast-solar-s-maine-community-solar-portfolio.html) announcement on November 4, 2026. The announcement did not disclose the transaction amount or name the tax equity investor.\n\n## How the MidCoast Syndication Was Structured\n\nNuGen TES structures transactions so developers keep long-term ownership of their projects, either directly or as the Class B member of the tax equity partnership, and remains engaged through the end of the tax credit recapture period. On the MidCoast portfolio, NuGen TES managed diligence, underwriting and structuring, and it advises developers on transaction structure, term negotiation and preparing projects for long-term ownership.\n\nAmis, Patel & Brewer, LLP served as syndication counsel, and Sheridan CPA LLP handled financial modeling, domestic content and cost segregation. \"As fellow New England champions, NuGen truly understands the needs of Mainers and the intricacies of community solar,\" said Misha Curtis, Senior Project Manager at MidCoast Solar. Melissa Boudreau, Partner at APB, said the firm \"look[s] forward to helping more developers bring their projects to closing.\"\n\nUnder the syndication structure, the developer can buy out the investor's interest after the tax credit recapture period and either sell the portfolio or keep operating it. NuGen TES said seasoned tax equity investors often pass on smaller projects and newer developers, and that it built its offering to close that gap.\n\n## NuGen Capital's Portfolio and Prior Moves\n\nNuGen TES draws on [NuGen Capital Management](https://akta.pro/company-profiles/000b9se/nugen-capital-management), which has spent more than 15 years developing, acquiring, financing and operating solar projects and owns and manages a portfolio of more than 100 megawatts across the Northeast, according to akta.pro [company records](https://akta.pro/company-data). The same records show NuGen launched NuGen Equity Solutions in April 2024 to structure investment tax credit, production tax credit and accelerated depreciation monetization for third-party developers, and list more than $250MM in total energy investments as of January 2025 and 65MWdc of solar projects managed.\n\n## Solar Funding Elsewhere in October\n\n[paXos Solar GmbH](https://www.startbase.com/news/paxos-solar-plant-finanzierungsrunde-ueber-15-millionen-euro-fuer-weiteres-wachstum/) plans to raise up to €1.5 million via FunderNation to pre-finance solar roof projects and expand sales, Startbase reported on October 28, 2026. That day, [KBRA](https://www.financialcontent.com/article/bizwire-2026-10-28-kbra-assigns-preliminary-ratings-to-igs-solar-shamrock-issuer-2026-1-llc) assigned preliminary ratings to two classes of notes issued by IGS Solar Shamrock Issuer 2026-1, LLC, collateralized by 18,488 solar leases and PPAs, FinancialContent Business Page reported.\n\n## NuGen's 2027 Pipeline Focus\n\nHeading into 2027, NuGen TES continues to pursue new tax equity opportunities, while NuGen Capital is evaluating developer portfolios, focusing on geographically clustered projects totaling 20 megawatts or more.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}