Plankton-Gratitude Yield Co. Announces Oversubscribed Final Close to Scale Distributed Solar
PGY’s development and operational strength is powered by Plankton Energy, an experienced distributed solar developer with a track record of energizing projects and delivering compelling financial returns. With a team specialized in development, engineering, operations, and asset management, Plankton enables PGY to aggregate projects into a diversified portfolio representing an under-served, high-potential market segment that can deliver predictable, tax-advantaged cash yield.
“The energy transition won’t happen solely on vast utility-scale fields,” said Dan Giuffrida, CEO of Plankton Energy. “It’s also taking place on rooftops, campuses, and buildings in our communities. By investing in the mid-market, we’re using existing infrastructure to generate renewable power close to where it’s consumed — improving grid reliability and accelerating decarbonization.”
Plankton Energy has developed a robust pipeline of projects across retail, industrial, office, nonprofit, and school facilities. PGY has already acquired eleven projects — three currently energized and eight in various stages of construction — that meet its financial and impact criteria. Plankton Energy is underway with development of an additional 25 projects across three northeastern states. More than half of the projects will be community solar, enabling low- and moderate-income residents to participate in the clean energy economy and save on their energy bills.
Anchoring this partnership is Gratitude Railroad, which brings more than a decade of experience in financial asset management, a committed network of investors, and a disciplined focus on opportunities that deliver both strong financial performance and meaningful impact. Identifying market gaps and shaping joint ventures are core to Gratitude’s work.
“This new fund represents a step forward for distributed clean energy,” said Rebekah Saul Butler, Managing Partner at Gratitude Railroad. “We aim to demonstrate that small commercial and community solar delivers solid financial returns alongside community benefits — reducing pollution, lowering energy costs, and powering the technologies that define our future.”
PGY recently closed a $7.5 million revolving construction facility with Locus that will enable the building of all of the portfolio projects. The fund also partners with RSF for term debt and receives additional financing through tax-credit transfers. Revenue is generated through a diversified stream of electricity sales and state incentives in the form of Solar Renewable Energy Credits (SRECs).
Amid ongoing policy shifts and evolving federal tax-credit guidance, PGY has moved decisively to leverage incentives under the Inflation Reduction Act — including community solar and domestic-content “adders,” as well as new tax-credit transferability provisions — which continue to be available for projects advancing in the lower middle market. These mechanisms expand project eligibility, increase available capital, and strengthen the economics of distributed solar, making it attractive to investors who are nimble and attuned to the policy context.
PGY meets rising investor demand for cash yield with meaningful impact at a time when reducing emissions and making energy more affordable are urgent priorities.
About Plankton-Gratitude Yield Co.
Plankton-Gratitude Yield Co. is an impact-driven solar investment platform that owns and operates distributed solar assets serving low-income and underserved communities, supporting measurable social and environmental outcomes alongside cash yield.
About Plankton Energy
Plankton Energy is a distributed energy developer committed to making clean power accessible, affordable, and resilient for all communities. Through rooftop, community, and C&I solar deployment, Plankton delivers lower energy costs, local environmental benefits, and sustainable long-term returns.
About Gratitude Railroad
Gratitude Railroad is an asset manager and impact investing network dedicated to transforming capital to create a thriving world.
Communications Team
Plankton Energy
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