NGP Launches NGP Sustainable Real Assets to Invest in Clean Energy Project Development Platforms
22 Julio 2024 - 6:00AM
Business Wire
NGP is pleased to announce the closing of NGP Sustainable Real
Assets, LLC (“NGP SRA”) with approximately $500 million of capital
commitments from NGP’s dedicated energy transition fund, NGP Energy
Transition IV, L.P., and co-investors. NGP SRA was formed to invest
in real asset development platforms across the energy transition –
including clean power, clean fuels, carbon, transportation and
critical minerals. NGP SRA invests by partnering with exceptional
management teams, often at the earliest stages of company
formation, and provides capital and support to help build leading
energy transition platforms.
Chris Carter, NGP’s Managing Partner, commented “Our strategy
with NGP SRA combines NGP’s 35-year track record of
partnership-oriented investing, having backed more than 300
development platforms across the energy sector, with our firm’s
significant capital, expertise and resources dedicated to the
energy transition. We see a big opportunity to deploy an investment
model NGP has honed over the last three decades into these
attractive clean energy subsectors.”
Phil Deutch, NGP Partner and Energy Transition Fund Head,
remarked “We take great pride in our reputation as value-added
partners and trusted sector specialists in energy. More than three
decades ago, NGP pioneered the investment model that now dominates
traditional energy project development. We are excited to commit
our experience and capital to advancing energy transition projects
while seeking attractive risk adjusted returns for our
investors.”
Sam Stoutner, NGP Partner, added “We continue to see a mismatch
between the supply of high-quality, shovel-ready clean energy
projects, and the capital to build, finance and own those projects.
In NGP SRA, we will focus on backing teams and projects earlier in
their lifecycle and working with management to build scaled,
diversified, derisked projects and platforms that can ultimately be
handed off to lower-cost, longer-term pools of capital.”
NGP SRA has already closed investments in the three platform
companies profiled below and continues to evaluate new
opportunities to add to its portfolio. NGP SRA generally targets
equity commitments of $50-$150 million per investment. To get in
touch with the NGP investment team, please contact
inquiries@ngpenergy.com.
Segue Renewables II, LLC
(Segue)
Segue invests in development-stage energy transition projects
and the infrastructure enabling them. Segue provides capital and
expertise to originate, de-risk, optimize, and monetize projects.
Segue Renewables II is the second partnership between the Segue
management team and NGP.
Cloverleaf Infrastructure, LLC
(Cloverleaf)
Cloverleaf develops clean-powered, ready-to-build sites for the
largest electric loads. Leveraging management’s extensive expertise
in the power and data center sectors, Cloverleaf collaborates with
regional U.S. utilities and data center operators to deliver
scalable clean electricity through strategic investments in
transmission, grid interconnection, land, onsite power generation
and electricity storage.
CO280 Solutions, Inc. (CO280)
CO280 is the leading developer of Carbon Dioxide Removal
projects in the pulp and paper industry. The company partners with
pulp and paper companies to develop, finance, own and operate
carbon removal projects that deliver a new standard of permanent,
verifiable, and affordable carbon removal credits to the voluntary
carbon market.
About NGP
NGP is a premier private equity firm that believes energy is
essential to progress. Founded in 1988, NGP is moving energy
forward by investing in innovation and empowering energy
entrepreneurs in natural resources and energy transition. With over
$23 billion of cumulative equity commitments, we back portfolio
companies focused on responsibly solving and securing the energy
needs of today and leading the way to a cleaner, more reliable, and
more affordable energy future. For more information, visit
www.ngpenergy.com.
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Sam Stoutner Partner – NGP 972.432.1440
inquiries@ngpenergy.com