Greencoat Capital targets $ 5 billion in deployment by 2026
New York and Chicago offices opened with $ 500 million already deployed
NEW YORK and CHICAGO, Oct. 14, 2021 (GLOBE NEWSWIRE) – Greencoat Capital LLP (“Greencoat”), the largest manager of renewable energy investments in Europe, with approximately $ 10 billion in assets under management, today announced 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 senior US team 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 income over the long term, 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, noted: “It is a particularly exciting time to enter the US market as the country reaches the inflection point for renewable energy growth. We see huge opportunities to build a strong portfolio as we have done in the UK and Europe 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 parties 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 US 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 U.S. 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 corporate assets. renewable energy infrastructure across the United States.
David Boyce, Commercial Director of Greencoat in the United States, noted: “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 renewable power generation capacity in the United States by 2030 with a value of investment of $ 1 trillion. For Greencoat, we see a $ 5 billion investment opportunity 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 megawatt wind portfolio in South Texas and an 80% interest in a 405 megawatt wind portfolio in Illinois.
Laurence Fumagalli and David Boyce are available for media interviews.
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About Greencoat Capital
Greencoat is one of the world’s leading managers of renewable energy investments, with approximately $ 10 billion in assets under management. Greencoat manages investments in over 200 renewable energy generation assets through 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.