Greencoat Capital targets $ 5 billion in deployment by 2026 New York and Chicago offices open with $ 500 million already deployed
NEW YORK, NEW YORK and CHICAGO, ILLINOIS, October 14, 2021 – Greencoat Capital LLP (“Greencoat”), the largest manager of renewable energy investments in Europe, with approximately $ 10 billion in assets under management, has announced today its entry into the US renewable energy sector. Greencoat has opened two new offices in New York and Chicago and plans to have a significant impact on the US aftermarket with the hope of investing $ 5 billion over the next five years. Greencoat hired a high-profile team in the United States and invested $ 500 million in wind farm portfolios in Texas and Illinois in 2021.
Over the past eight years, Greencoat has grown to become the largest investment manager specializing in renewable energy in Europe, investing and managing over 200 wind, solar and bioenergy assets, representing over 3,000 megawatts of generation capacity. The Company sees a significant growth opportunity in the United States, providing North American and European institutional investors (including public and private pension plans and insurers) access to one of the most important renewable energy markets and the fastest growing.
While Greencoat’s expansion plans in the United States have been underway for some time, the current record pace of renewable energy development underscores the enormous opportunity for Greencoat’s “income secure” investment model to be. reproduced in the United States. The company aims to provide investors with predictable and stable long-term income, on a buy-and-hold basis, by investing in wind and solar generation and energy storage assets. The model also allows developers and utilities to recycle capital in order to continue to develop their capacities towards a low carbon economy.
Laurence Fumagalli, Greencoat Partner, said: “This is a particularly exciting time to enter the US market as the country reaches the inflection point for renewable energy growth. over the past eight years. A permanent presence in New York and Chicago will allow us to forge closer ties with the main owners and investors of energy infrastructure, many of whom are partners with whom we have already established partnerships in Europe.
As part of its entry into the United States, Greencoat appointed David Boyce to head the American operations. David brings over 20 years of experience 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 fund and impact investing experience, including as Head of environmental finance 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 megawatts of assets of renewable energy infrastructure across the United States.
David Boyce, Commercial Director of Greencoat in the United States, said: “The current dynamics of renewables in the United States make this the perfect time for Greencoat to expand into the United States, with an expected tripling of generation capacity. renewable energy in the United States by 2030 with an investment value of $ 1 trillion. 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, matching 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 megawatt wind portfolio in South Texas and an 80% interest in a 405 megawatt wind portfolio in Illinois.
About Greencoat Capital
Greencoat is one of the world’s leading renewable energy investment managers, with approximately $ 10 billion in assets under management. Greencoat manages investments in over 200 renewable energy generation assets across wind, solar and bioenergy, with an aggregate net capacity of over 3,000 megawatts. For more information on Greencoat, please visit http://www.greencoat-capital.com.