This important capital dedication will help the corporate’s continued development and continued transformation into an unbiased energy producer.
Burlington, VT – Encore Renewable Power (Encore), a frontrunner in neighborhood and utility-scale renewable power origination, improvement and building, introduced in the present day that it has secured a serious fairness funding from SUSI Companions (SUSI), a worldwide sustainable infrastructure funding agency. based mostly in Switzerland, by way of its flagship Power Transition Fund (SETF). The funding will full the corporate’s transition from a mission developer and EPC to an unbiased energy producer (IPP) by increasing the enterprise and additional strengthening its asset base.
As a licensed B Company, Encore locations a powerful deal with sustainable development, environmental compatibility, and neighborhood engagement, which aligns with SUSI’s sustainability focus. Particularly, the corporate has confirmed experience in redeveloping brownfield websites, minimizing the environmental impacts of tasks, and revitalizing communities within the course of. With SUSI’s help, Encore goals to develop greater than 500 MW of community-scale photo voltaic and power storage tasks, along with a portfolio of utility-scale methods, over the following 5 years.
“This funding marks a crucial step in our multi-year strategic transition to an IPP that may allow us to quickly deploy photo voltaic and power storage tasks, strengthening the partnership between our ourselves and our clients and proceed to develop our firm,” stated Blake Sturcke, co-CEO of Encore Renewable Power. “We consider SUSI Companions is uniquely certified to be our associate going ahead, given their deep experience in our business and shared mission to create a extra sustainable power future.”
Richard Braakenburg, Head of Fairness Investments at SUSI Companions, stated: “We’ve got been investing in power transition infrastructure for over a decade and the momentum for clear power we’re witnessing in the present day within the US makes us very excited in regards to the future. by Encore. -term partnership, we wish to construct on their confirmed skill to ship clear power tasks in a manner that protects the atmosphere and ensures help from native communities.”
The transaction highlights Encore’s observe report up to now and is a testomony to the rising US clear power sector, spurred by the current passage of the historic Inflation Discount Act of 2022. For SUSI, this transaction follows earlier US investments in battery storage and electrical automobile charging. infrastructure and additional strengthens the corporate’s place on this planet’s largest financial system.
Chris Clement, Encore’s Chief Monetary Officer & Chief Funding Officer, led this transaction, with Javelin Capital appearing as Encore’s monetary advisor.
PART OF THE ENCORE
Encore Renewable Power is a Burlington, Vermont-based chief in neighborhood and utility-scale renewable power improvement with a confirmed observe report in photo voltaic improvement from idea to completion. Based in 2007 as Encore Redevelopment, their group specializes within the design, improvement, financing, allowing, and building of photo voltaic and power storage tasks in landfills, brownfields and carports. As a values-led firm, Encore is dedicated to revitalizing communities and making a cleaner, brighter future for all.
ABOUT SUSI PARTNERS
Based in 2009, SUSI Companions is a Swiss fund supervisor specializing in sustainable power infrastructure investments with EUR 1.9bn in capital commitments from institutional buyers. The corporate’s funding technique focuses on non-public fairness and credit score alternatives throughout the spectrum of the power transition, together with clear power era, power effectivity measures, and options that allow the usage of clear power. With a profitable observe report of greater than 140 transactions in over 20 nations up to now, SUSI Companions goals to realize enticing risk-adjusted returns for its shoppers and their beneficiaries whereas contributing meaningfully to attaining world local weather neutrality.