In the United States (US), Power Sustainable Infrastructure Credit Inc. (PSIC), a subsidiary of Power Corporation of Canada, an international management and holding company focused on financial services, has announced that it recently closed a US$45 million senior secured financing for Novilla RNG LLC (Novilla), a vertically integrated developer, owner and operator of dairy renewable natural gas (RNG) assets in the US.
According to a statement, the PSIC financing will support growth capital expenditures, including the construction of two greenfield dairy RNG projects in South Dakota, and advance Novilla’s broader development pipeline.
Novilla’s projects capture methane from dairy operations and convert it into pipeline-quality renewable natural gas, helping abate methane emissions and supply low-carbon fuel to transportation and utility markets.
Founded in 2021, Novilla designs, permits, constructs, owns, and operates dairy RNG projects across the United States, with five projects operating as of June 2026.
It is led by an experienced management team with a combined track record of more than 100 years in the RNG and infrastructure sectors.
Novilla has been sponsored since its inception by ERA Partners LLC, a value-add infrastructure investment firm that specializes in building platforms of asset-rich operating businesses that deliver essential services in the North American lower middle market.
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. We are pleased to support the Company’s next phase of growth as it brings additional projects online. We believe Novilla is well-positioned to deliver durable outcomes for its partners and stakeholderssaid Benjamin Shenwick, Principal of PSIC.
Tenth investment
The PSIC investment reflects its continued focus on providing tailored financing solutions to infrastructure businesses and assets that improve resource efficiency and support the energy transition.
The strategy seeks to partner with exceptional companies and management teams across infrastructure sectors, including energy, transportation and logistics, digital, social, and utilities and recycling.
With this transaction, PSIC has completed ten investments across North America, following the recent close of its first global fund, which brought total capital aligned with the strategy to more than US$1 billion.
This financing provides flexible capital to bring our projects under construction online and continue building our development pipeline. 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-CEO of Novilla RNG.
