Power Sustainable Closes $45 Million Financing for Novilla RNG Projects

Power Sustainable Infrastructure Credit (PSIC) has completed a $45 million senior secured financing for Novilla RNG, a company focused on developing dairy renewable natural gas (RNG) projects across the United States. This capital injection is aimed at supporting Novilla's growth, particularly through the construction of two new greenfield dairy RNG projects in South Dakota.

Novilla RNG, established in 2021, specializes in converting methane emissions from dairy operations into renewable natural gas. This process not only helps in reducing methane emissions but also supplies low-carbon fuel to transportation and utility markets. As of June 2026, Novilla has five operational projects and plans further expansion with the latest financing.

The company is backed by ERA Partners LLC, an infrastructure investment firm that has supported Novilla since its inception. ERA Partners focuses on building asset-rich businesses offering essential services in North America's lower middle market.

Benjamin Shenwick, Principal of PSIC, expressed satisfaction with the partnership, highlighting Novilla's unique approach to developing a robust dairy RNG platform. Jared Williams, Co-CEO of Novilla RNG, emphasized the importance of PSIC's support in bringing ongoing projects online and expanding their development pipeline.

PSIC's investment in Novilla is part of its broader strategy to provide tailored financing solutions to infrastructure businesses that enhance resource efficiency and support the energy transition. This transaction marks the tenth investment by PSIC in North America, aligning with its recent global fund close that gathered over $1 billion in capital.

Power Sustainable, the parent company of PSIC, focuses on investing in sectors undergoing structural changes like energy, food, and mobility. The firm targets opportunities driven by transition, resilience, and resource efficiency, operating as a subsidiary of Power Corporation of Canada.