Power Sustainable closes $45M financing for dairy RNG developer Novilla

Power Sustainable Infrastructure Credit ("PSIC"), a subsidiary of Power Corporation of Canada (TSX: POW), has closed a $45 million senior secured financing for Novilla RNG, a dairy renewable natural gas developer, owner, and operator based in the United States.

The capital will fund growth expenditures, including the construction of two greenfield dairy RNG projects in South Dakota, and support Novilla's broader development pipeline. Novilla's projects capture methane from dairy operations and convert it into pipeline-quality renewable natural gas for transportation and utility markets.

Founded in 2021 and backed by ERA Partners LLC since inception, Novilla had five projects operating as of June 2026. The company designs, permits, constructs, owns, and operates dairy RNG projects across the United States.

"This financing provides flexible capital to bring our projects under construction online and continue building our development pipeline," said Jared Williams, Co-Chief Executive Officer of Novilla RNG.

Benjamin Shenwick, Principal of PSIC, said the firm is "pleased to support the Company's next phase of growth as it brings additional projects online."

With the transaction, PSIC has completed ten investments across North America. The firm recently closed its first global fund, bringing total capital aligned with its infrastructure credit strategy to more than $1 billion.

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