Lightstar

Company Overview

Lightstar is a distributed generation solar company that focuses on the fast-growing community solar sector. Elda River acquired control of Lightstar in 2019 and, over the course of Elda River’s investment, Lightstar developed and successfully monetized multiple community solar projects.

Elda River Investment

Elda River had known the Lightstar management team for a number of years prior to acquiring Lightstar. At the time of acquisition by Elda River, Lightstar had a diverse pipeline of community solar projects that required institutional capital to fully develop and construct. The investment was directly originated by the Elda River team.

Elda River Approach

Elda River’s investment in Lightstar provided us with exposure to the community solar market in the United States. At initial closing, Elda River’s investment was in structured equity that converted to common equity as Lightstar monetized assets over time.

Company Benefit 

Lightstar benefits from Elda River’s significant financial and operational experience in distributed solar, as well as Elda River’s strong structuring expertise. Elda River team members controlled the board of Lightstar, and worked closely with the Lightstar management team across all key aspects of the business.