Crayhill And Monarch Launch Joint Venture with $300M To Fund Hybrid Preferred Tax Equity For Solar, Battery, And Distributed Energy Projects

Crayhill Capital Management and Monarch Private Capital have announced a strategic joint venture to support hybrid preferred tax equity investments in renewable energy projects, including utility-scale solar, battery storage, and distributed generation projects. Crayhill has committed $300 million of capital to the joint venture, named Monarch JVT Funding. Using Monarch’s advanced platform, the joint venture will invest in tax partnerships that enable renewable energy developers to achieve fair market value tax basis.

The joint venture is designed as a single-point solution to help maximize project tax credit value while minimizing transfer complexity. It offers a streamlined process supported by a single underwriting system and industry-standard partnership and transfer documentation, providing both efficiency and consistency for developers. This partnership builds on Crayhill and Monarch’s extensive experience and proven track record in tax equity transactions. Both firms expect to continue generating strong results through the joint venture as well as independently in the future.

Commenting on the partnership, Shweta Kapadia, Managing Director of Power & Infrastructure at Crayhill, said that the firm is excited to bring this new solution to the market. She noted that, with over 17 GW of utility-scale solar and battery projects financed, Crayhill understands the value of flexibility and simplicity for tax-inefficient developers and for projects with merchant or non-fixed contract economics. Kapadia added that, combined with Crayhill’s pre-construction development capital, this joint venture provides a complete pathway for renewable energy projects—from early-stage development to tax-efficient monetization.

Bryan Didier, Partner and Managing Director – Energy at Monarch Private Capital, highlighted the strong demand for a single-source financing solution and expressed pride in partnering to deliver this offering to the renewable energy market.