PSIC closes senior secured financing for Novilla RNG to support greenfield dairy RNG projects in South Dakota
Type: Financing · Technology: Biomass · Country: United States · Announced: 2026-07-03
PSIC has closed a senior secured financing deal with Novilla RNG to support growth capital expenditures, including the construction of two greenfield dairy RNG projects in South Dakota. This financing will also advance Novilla's broader development pipeline, which involves capturing methane from dairy operations and converting it into pipeline-quality renewable natural gas. Novilla, founded in 2021 and sponsored by ERA Partners LLC, designs, permits, constructs, owns, and operates dairy RNG projects across the United States, with five projects already operating as of June 2026. This transaction marks PSIC's tenth investment across North America, following the recent close of its first global fund, bringing total capital aligned with its infrastructure strategy to over US$1 billion. The financing provides flexible capital to bring Novilla's projects under construction online and continue building its development pipeline.
Counterparties
- Novilla RNG (Borrower)
- PSIC (Lender)
- ERA Partners (Parent Company)