Power Sustainable Backs Dairy RNG Build-Out With $45M Facility
Power Sustainable Infrastructure Credit (PSIC) has closed a $45 million senior secured financing for Novilla RNG, providing growth capital to accelerate the company’s pipeline of dairy renewable natural gas projects across the U.S.
The financing will fund the construction of two greenfield dairy RNG facilities in South Dakota and support Novilla RNG’s broader development strategy. The company develops, owns and operates renewable natural gas assets that capture methane emissions from dairy farms and convert them into pipeline-quality fuel for transportation and utility markets.
“Novilla stands out for its first-principles approach to building a differentiated dairy RNG platform, combining deep technical capabilities with an expanding portfolio of high-quality projects,” said Benjamin Shenwick, principal at PSIC. “We are pleased to support the company’s next phase of growth as it brings additional projects online.”
Renewable natural gas projects are attracting growing investor interest as they help reduce methane emissions, one of the most potent greenhouse gases, while producing low-carbon fuel that can be integrated into existing natural gas infrastructure.
“PSIC’s infrastructure credit expertise and understanding of the RNG sector make it a strong financing partner for Novilla as we continue to develop high-quality dairy RNG projects across the United States,” said Jared Williams, co-chief executive officer of Novilla RNG.
The transaction marks PSIC’s 10th investment across North America and follows the recent final close of its inaugural global infrastructure credit fund. With that fundraising, total infrastructure credit capital now exceeds $1 billion.
