Investment manager

European Renewables Investment Manager launches operations in the United States


Greencoat Capital LLP, a manager of renewable energy investment in Europe with approximately $ 10 billion in assets under management, announced its entry into the US renewable energy sector with the opening of two new offices in New York and Chicago. Greencoat has also hired a senior American team and has already invested $ 500 million in wind farm portfolios in Texas and Illinois.

Over the past eight years, Greencoat has invested and managed over 200 wind, solar and bioenergy assets in Europe, representing over 3,000 MW of generating capacity. The company plans to invest $ 5 billion over the next five years.

“We see huge opportunities to build a large portfolio, as we have done in the UK and Europe over the past eight years,” says Laurence Fumagalli, partner of Greencoat. “A permanent presence in New York and Chicago will allow us to forge closer ties with the major owners and investors of energy infrastructure, many of whom are parties with whom we have already established partnerships in Europe. “

Greencoat has appointed David Boyce as head of US activities. He brings more than 20 years of experience in investing in US energy. Along with Boyce, Coen Weddepohl will lead U.S. Investor Relations and Business Development, with over 20 years of private equity, hedge funds and impact investing experience, including as Chief Financial Officer environment at Man Group. Saad Qais joins as Head of Asset Management, with over 20 years of experience in energy finance, including over 10 years in managing renewable energy portfolios and companies in the States -United.

Ciaran O’Brien will continue to chair the US operations of Greencoat, which he has supported since 2019. Between them, the team is directly responsible for the development, financing and mergers and acquisitions of several thousand MW of assets of renewable energy infrastructure across the United States.

“The current dynamics of renewables in the United States make this the perfect time for Greencoat to expand in the United States, with an expected tripling of renewable power generation capacity in the United States by 2030 with a value of investment of $ 1 trillion. For Greencoat, we see an investment opportunity of $ 5 billion over the next five years and aim to make Greencoat one of North America’s leading renewable energy investors, corresponding to the company’s leadership position. in Europe.

The launch of Greencoat in the United States follows the investment in six wind power assets in the United States in 2021 by funds managed by Greencoat. These include a 24% interest in an 861 MW wind portfolio in South Texas and an 80% interest in a 405 MW wind portfolio in Illinois.