Sygnus Capital drives solar projects with $17.1 million in financing

The firm said it is currently in talks to support larger-scale projects in municipalities across Puerto Rico.

Date: May 22, 2026 – 2:00 PM
By: Efraín Montalbán Ríos | Business Journalist at El Nuevo Día

Sygnus Capital Puerto Rico closed $17.1 million in financing for commercial solar energy projects between 2025 and the first part of 2026, as part of the expansion of its alternative financing program for installations of various sizes.

The company also indicated that it is currently in discussions to support large-scale commercial projects in different municipalities across the island.

“At Sygnus, we recognized that many businesses and organizations had both the interest and the need to invest in solar energy, but lacked flexible and accessible financing options to make it happen. Our program is specifically designed to bridge that gap and facilitate projects that generate a positive economic, social, and environmental impact for Puerto Rico,” said Marian De Jesús, business development manager at Sygnus Capital Puerto Rico.

According to the firm, the initiative has already enabled investments exceeding $1 million in projects focused on tourism, education, healthcare, and community infrastructure, driving the adoption of renewable energy among small and medium-sized businesses (SMBs) and nonprofit organizations.

Among the projects financed during the program’s initial phase is the installation of a solar system for a boutique lodging property in Vieques, representing an investment of approximately $112,000. Likewise, Sygnus supported a solar energy project for a private educational center in Bayamón, with an investment close to $231,000.

The program also facilitated financing for a solar system valued at approximately $122,000 for a senior living home in Guayanilla.

The program operates in collaboration with specialized solar energy providers and certified contractors, enabling commercial clients to access both the technology and the capital needed to complete their projects.

“Beyond financing, we are helping essential businesses and community organizations operate with greater energy stability and long-term planning,” De Jesús added.

In addition to these projects, Sygnus continues to evaluate new financing opportunities for businesses and organizations in sectors such as light manufacturing, retail, and services, reflecting growing demand for more efficient and resilient energy solutions.
Sygnus stated that it will continue expanding the program’s reach over the coming years, with an emphasis on higher-capacity commercial projects and organizations whose operations depend on reliable and uninterrupted energy service.

Last year, Sygnus Capital Puerto Rico closed $101.3 million in alternative financing for companies across various economic sectors on the island, of which approximately $36.5 million — or 36% of the total — was directed to the healthcare sector.

https://www.elnuevodia.com/negocios/banca-finanzas/notas/sygnus-capital-impulsa-proyectos-solares-con-171-millones-en-financiamientos/?templateId=OTB2HAZL1TSY&templateVariantId=OTB2HAZL1TSY&experienceID=EX10ZRKRQLDE

The problem is not access to capital – It’s preparation

Many companies continue to concentrate their key decisions in one or two people, a dynamic that can be seen as a risk, explains financier Jesús D. Mattei

April 26, 2026 – 11:07 PM

Obtaining financing requires much more than simply having a company’s books in order, according to Sygnus Capital Vice President Jesús D. Mattei.

In Puerto Rico, many strong businesses — including family-owned companies with decades of history — face challenges when trying to finance their growth, not because they lack potential, but because they enter the process without having built the foundations that capital providers require.

There is a common perception that approaching a bank simply involves presenting financial statements and explaining a need. In reality, it is a far more demanding process: a structured evaluation designed to determine whether a company represents a manageable risk. And that evaluation is not defined in a single meeting. It is determined long before that point.

In practice, every financial institution conducts its own due diligence. The difference between companies that gain access to capital on favorable terms and those that do not lies in who leads that process. The best-positioned companies conduct that evaluation internally first.

What Is a Bank Really Evaluating?

First, the quality of financial information. It is not enough to provide statements prepared solely for tax purposes. What lenders seek is consistency, traceability, and, above all, future visibility. Credible projections with clear assumptions carry as much weight as historical results. A company that cannot explain how it plans to grow will struggle to justify why it needs capital.

Second, operational dependency. Many companies continue to concentrate key decisions in one or two people. From a credit perspective, this is not efficiency — it is risk. The absence of clear management structures and defined processes limits scalability and reduces third-party confidence.

Third, corporate formality. Informal agreements, incomplete documentation, or ambiguous structures create friction throughout the process. Capital providers seek certainty: they want to understand who is in control, how decisions are made, and what mechanisms exist to manage conflicts. Without that clarity, even viable transactions can stall.

Timing and the Right Door

Fourth, the relationship with the financial system. The best financing terms are rarely negotiated during moments of urgency. They are built over time through transparency, consistency, and credibility. At the same time, the ecosystem has evolved: private funds and specialized credit structures now complement traditional banking, enabling more flexible solutions when needed.

One common mistake is treating all capital as interchangeable. It is not. The financing structure must align with the intended use of funds. Financing long-term growth with short-term debt can create unnecessary pressure on cash flow and compromise operations.

It is also necessary to anticipate difficult questions. Customer concentration, resilience during economic downturns, and supplier dependency are among the factors that will always be evaluated. Avoiding these issues does not improve the perception of risk; understanding and managing them does.

In our experience, the most common limitations in financing processes are not caused by structural weaknesses within the business itself, but by a lack of preparation in presenting the company properly. And that preparation requires discipline, not urgency.

Puerto Rico has a resilient business community. But scaling to the next level requires adopting more rigorous practices. Access to capital should not be viewed as a transactional event, but rather as a capability that is continuously developed.

Ultimately, capital does not evaluate numbers alone. It evaluates clarity, structure, and execution capacity. Companies that understand this stop chasing financing and begin attracting it.

https://www.elnuevodia.com/opinion/la-opinion-experta/el-problema-no-es-el-acceso-a-capital-es-la-preparacion/?utm_source=LinkedIn&utm_medium=Social

Sygnus Capital channeled $101.3 million in alternative financing in Puerto Rico

The firm grew 12% last year and anticipates investment opportunities in Puerto Rico’s manufacturing and civil defense sectors.

February 5, 2026 – 12:00 PM
By Efraín Montalbán Ríos
Business Reporter

Last year, Sygnus channeled capital to about 15 medical institutions, representing approximately $36.5 million, or 36% of the total.

Sygnus Capital Puerto Rico closed last year with $101.3 million in alternative financing provided to companies across various economic sectors on the island, according to James Connor, the firm’s chief executive officer (CEO).

Compared to its 2024 results, the firm deployed more than $90 million in capital last year, representing an increase of approximately 12.22%.

“Institutions like ours that operate in this emerging private capital sector are taking the pulse of the market. We are highly focused on identifying where the gaps in the market are and how they align with the priorities expressed by local and federal governments,” Connor explained.

During the past year, Sygnus expanded into the energy resilience sector, providing alternative capital for the development of two solar energy system projects and, according to the executive — who has 25 years of experience providing capital in Puerto Rico — the firm will soon announce another large-scale initiative.

More Than $36 Million Directed to the Healthcare Sector

Over the past several years, the private capital firm has expanded its client portfolio within the healthcare industry, channeling capital last year to approximately 15 medical institutions, representing around $36.5 million, or 36% of the total financing provided, according to Connor.

One example was the company’s support of Grupo Hospitalario Quirós through a $15 million financing agreement to execute an ambitious expansion plan for healthcare infrastructure and critical medical services.

Likewise, Sygnus financed $5.2 million in sustainable cities and community projects. Over the past 12 months, at least two housing developments on the island received support.

The firm also financed the development of four boutique hotels and, according to Connor, expects to complete financing this year for another tourism project in Cabo Rojo.

“We cover nearly the entire island. The area that is somewhat less covered is the central region of the island, but I hope that changes over time,” Connor said.

Sygnus Capital, formerly known as Acrecent Financial Corporation, is an alternative investment firm that offers financial solutions by providing businesses and investors with direct financing opportunities.

Institutions that provide alternative financing often serve as lifelines for companies facing critical financial situations, where traditional financial institutions are unwilling to assume the lending risk.

Focused on Industry and Defense

Although Sygnus already serves part of Puerto Rico’s manufacturing sector, Connor emphasized that it will become even more significant this year due to opportunities to attract more companies to the island as part of local and federal reshoring policies.

In 2025, nearly $2.6 million — or 2.3% of the financing provided by Sygnus — was directed toward the industrial sector.

“It is an opportunity I see, and I believe we should be involved. Not just us — I think all capital providers should help position Puerto Rico as a more relevant manufacturing player,” Connor said.

Additionally, he explained that following the recent military reactivation on the island, another emerging market is national defense, a sector in which Connor says he has already received calls from companies interested in gaining access to capital.

“I can assure you that in the Aguadilla area there must be Puerto Rican companies supplying fuel, maintenance, and an entire support infrastructure that becomes a business opportunity,” Connor stated.

Sygnus Capital’s goal for this year is to reach $150 million in alternative financing for businesses in healthcare, hospitality, renewable energy, housing, manufacturing, defense, and other sectors.

The $15 million agreement is part of an investment exceeding $25 million for new theaters, advanced equipment, and expanded capacity in Bayamón, Mayagüez, and Manatí.

December 8, 2025 – 6:40 PM
By Efraín Montalbán Ríos
Business Reporter

The photo shows a view of the Bayamón Medical Center, managed by the Quirós Group. The financing provided by Sygnus Capital will strengthen the services offered by the Manatí, Mayagüez, and Bayamón Medical Center hospitals; Puerto Rico Children’s Hospital; Mayagüez Medical Center San Antonio; and CT Radiology Complex.

Grupo Hospitalario Quirós finalized a $15 million financing agreement with Sygnus Capital Puerto Rico to carry out an ambitious expansion plan for medical infrastructure and critical healthcare services, Marian de Jesús, business development manager at the alternative financing and investment firm, announced Monday.

The agreement involves Manatí, Mayagüez, and Bayamón Medical Center; Puerto Rico Children’s Hospital; Mayagüez Medical Center San Antonio; and CT Radiology Complex.

The structured financing is part of an ongoing expansion plan exceeding $25 million, which will support, among other initiatives, the development of new facilities, the acquisition of medical technology, and the expansion of specialized programs in cardiology, oncology, pediatric oncology, and post-liver transplant patient care.

“We know there is a great need in the healthcare sector, and we want to do our part. We have always been committed to healthcare and want to continue supporting it,” de Jesús told El Nuevo Día.

“Currently, there are challenges within the industry, and hospitals are closing. Recently, there was news about the closure of Hope Medical Center in Humacao and Hospital del Maestro.”

Discussions to secure the alternative financing began earlier this year, and the transaction was completed last May, de Jesús explained.

Part of the investment — approximately $7 million — will be allocated to the installation of high-tech equipment at the former Hospital San Antonio in Mayagüez, which has been taken over by Mayagüez Medical Center.

The financing will also support the purchase of advanced diagnostic imaging equipment, including state-of-the-art magnetic resonance imaging (MRI) and computed tomography (CT) machines, valued at more than $11 million.

New Services in Bayamón

The expansion plan also includes the development of a new emergency room at Bayamón Medical Center, representing a $30 million investment backed by already approved federal CDBG funds, as well as the addition of 50 inpatient beds to accommodate the growing volume of patients.

According to José L. Quirós, president of the hospital group, these investments respond to the healthcare system’s real and urgent needs.

“We measure success by the lives we are able to impact and the quality of care we provide to our people. With Sygnus’ support, we are bringing world-class healthcare services closer to the communities that need them most. This is about ensuring that patients in Puerto Rico — whether in metropolitan areas or mountainous regions — have access to the same level of medical care found at top-tier hospitals abroad,” Quirós stated.

This financing agreement comes at a time when the hospital group has reached significant milestones as an organization, performing nearly 11,000 catheterizations and more than 600 open-heart surgeries annually. The group has also expanded cancer treatment programs and pediatric bone marrow transplant services.

Focused on the New Year

Shortly before the start of 2025, Sygnus Capital told El Nuevo Día of its interest in strengthening its presence in the healthcare and renewable energy sectors, a goal it achieved by providing more than $16 million in financing for photovoltaic projects, along with this recent hospital group transaction.

De Jesús said that for the remainder of the year and into next year, the firm is evaluating additional financing opportunities within the healthcare sector, particularly with existing clients.

“During this year, we have completed several very important transactions in the healthcare and energy sectors. These are two sectors we are supporting very intensively because we know there is a great need in the country,” de Jesús emphasized.

Sygnus Capital’s goal is to surpass $100 million in alternative financing provided on the island.

$100 million to be invested in solar park in San Germán

The project will generate 40 megawatts of energy and is expected to be ready in 2027

November 10, 2025 – 11:10 PM
By Efraín Montalbán Ríos
Business Reporter

Eric Delgado and Matthew Williams, co-founder and chief investment officer of GCI Holdings; and Miguel Román, part of the Solaner Puerto Rico management team.

The company Solaner Puerto Rico One will begin construction of a solar park in San Germán during the first quarter of 2026, supported by Sygnus Capital Puerto Rico, according to Eric Delgado, business development manager at the alternative financing firm.

The solar park will be interconnected with the power grid operated by LUMA Energy and will generate up to 51 megawatts (MW) of solar energy. Of that amount, approximately 40MW will be effectively injected into the grid, backed by battery storage systems.

“In the end, this should result in consumers beginning to see savings on their electricity bills because cheaper energy is being produced,” Delgado said.

Sygnus Capital Puerto Rico is an alternative capital access firm whose business model allows it to assume unique risks by using company assets as collateral and charging relatively higher rates.

The total estimated investment to complete the solar farm development, which will occupy approximately 207 acres of land in San Germán, is $100 million. Sygnus Capital contributed $6 million to the initiative.

The financing will support the design and engineering of the solar park, the acquisition of solar panels, batteries, and other equipment, as well as additional expenses prior to the start of construction.

“We understand all the positive impacts of this project in terms of social impact, lower energy costs, job creation, and most importantly, advancing public policy goals to move Puerto Rico toward clean energy,” Delgado said.

Puerto Rico’s energy transition goal is to achieve 100% renewable energy by 2050, under Law 17-2019, known as Puerto Rico’s Energy Public Policy Act.

According to data provided by Sygnus Capital and Solaner, the project is expected to be completed by October 2027 and will create 200 jobs during the construction phase.

The project is being developed by Solaner Puerto Rico, a company formed by XM Solar Finance and GCI Renewable Power LLC.

Meanwhile, Xan Moore, co-founder of XM Solar Finance, stated that Puerto Rico is part of the company’s vision to bring renewable energy generation to communities with limited access to reliable power and to ensure economic development in the western region of the island.

An Investment With a Multiplier Effect

Moore stated that the solar park will have a multiplier effect by helping retain and create businesses in the area, fostering manufacturing growth, and supporting surrounding communities.

“When you have a reliable energy source, it encourages local companies to remain in Puerto Rico and start businesses in the western region, which has a long-term effect. We can become a catalyst for economic development. You cannot have an economy without reliable energy service for the private sector,” Moore said.

Counterbalance to the End of Federal Loans

Although Moore said Solaner maintains a good relationship with Governor Jenniffer González and San Germán Mayor Virgilio Olivera, he acknowledged that collaboration with the Puerto Rico Electric Power Authority (PREPA) and the Fiscal Oversight and Management Board must be strengthened to create policies that encourage development and lower costs.

“Given that the federal Department of Energy loan program is no longer available to leverage these projects, the cost of developing them is higher. That is why private capital is necessary, and naturally, its costs are higher. For a company like ours, we will continue carrying out these projects, but we need PREPA and the Fiscal Oversight Board to understand that these projects are more expensive and help us achieve a financial structure that allows us to develop them without federal incentives.”

Despite the challenges of accessing capital and the high costs associated with large-scale solar energy developments, Solaner Puerto Rico projects $2 billion in future industrial solar and battery storage installations in other parts of the island, including Yabucoa.

So far this year, Sygnus has closed approximately $16 million in alternative loans for the solar energy sector. The first was disbursed last July to Pura Energía in the amount of $10 million for the installation of residential and commercial photovoltaic systems.

“These renewable energy projects are creating the space for transformation, especially within the private sector, to reduce costs and bring clean energy,” Delgado said, adding that the company is also evaluating another 60-megawatt project in Hatillo.

Published: W Journal

Sygnus Capital provides $5.4 million construction loan for housing development

The project adds to the company’s portfolio of real estate investments

Sygnus Capital Puerto Rico has closed a $5.4M construction loan to Centric Holdings LLC to build Centric Contemporary Urban Residences, a 24-unit community in Ponce’s San Antón Ward, highlighting the need for sustainable housing solutions. Pictured (seated L-R) are Eric Delgado Torres, Private Credit Business Development Manager at Sygnus Capital Puerto Rico; Abel Misla, Misla Villalba Group; Nannette Pérez, Portfolio Manager, Investment Banking, Sygnus Capital Puerto Rico; and Daniel Muler López, Account Manager, Investment Banking, Sygnus Capital Puerto Rico. Standing (L-R) are attorneys-at-law, Marta Ramírez Isern, Carlos Batista, and Jennifer Gomez Kiss.

Sygnus Capital PR LLC is deepening its footprint in Puerto Rico’s real estate sector with the closing of a $5.4 million construction loan to Centric Holdings LLC for the development of Centric Contemporary Urban Residences, a 24-unit housing development in Ponce.

The transaction reflects Sygnus’ growing influence in one of the Caribbean’s most competitive property markets and its commitment to funding high-impact projects that address critical housing needs.

“This investment underscores Sygnus’ commitment to strategically deploy capital where it can create meaningful community impact. By financing high-impact developments in underserved markets, we are enabling access to affordable housing and solidifying our role in Puerto Rico as a strategic investment partner”, said Eric Delgado, Business Development Manager, Sygnus Capital PR LLC.

The project will provide modern, affordable homes with features including approximately 1,500 square feet of living space across two levels, three bedrooms, three full bathrooms, 10-foot ceilings, private parking, and outdoor living areas, including a private patio and garden. These are designed to meet the needs of working families and middle-income residents.

This latest transaction adds to Sygnus’ growing portfolio of real estate investments across Puerto Rico and the Caribbean. The company sees Puerto Rico as a a strategic growth market, thanks to its blend of private credit with community-focused real estate development.

“At Sygnus, we believe capital can build the future. We’re honored to support developers like Centric who share our commitment to transforming communities through intentional, inclusive investment”, said Raúl Cacho, Head of Private Credit, Sygnus Capital Puerto Rico.

The project will be located in Ponce and will be led by veteran Puerto Rican entrepreneur and real estate developer, Abel Misla. The construction loan will fund the project from groundbreaking, expected in the fourth quarter 2025, through to completion, with sales projected to begin mid-2026.

By: Jesús Daniel Mattei, Vice President of Sygnus Capital Puerto Rico

Published: El Vocero de Puerto Rico (Link)

Puerto Rico’s business community continues to transform. More and more companies are seeking to optimize their capital structure, refinance legacy debt, or access funding for growth. However, even with the progress of our financial markets, many mid-sized and expanding companies face limitations when trying to obtain financing solutions that respond to their complexity and scale.

The design of Centric Contemporary Urban Residences in Ponce includes high-end finishes both inside and outside the units.

Puerto Rican investors lead the way in offering contemporary homes

With a contemporary design that seeks to captivate families and professionals living in southern Puerto Rico, the Centric Contemporary Urban Residences project was born in Ponce.

Sygnus Capital Puerto Rico has been trying to enter the renewable energy sector for years, said James Connor, CEO of the alternative investment firm. 

The investment firm has just closed its first solar energy loan to Pura Energía for $10 million.

Alternative financing firm Sygnus Capital Puerto Rico is seeking to position itself as a capital access option for renewable energy companies in the face of the void left by the withdrawal of federal funding for projects in this sector, reported James Connor, the company’s chief executive officer (CEO).

Source: El Nuevo Dia