Globally, the renewable energy field is one of the most promising sectors of all time as we transit from fuel-powered energy to renewable energy. This move is essential since it is the key to maintaining a zero-emission world where people can live safely. Recently, there are multiple investments in the world of renewables as the public and private sectors work together to ensure adequate renewable energy availability. ECP, an investment firm, announced their latest acquisition of the Terra-Gen renewable energy firm.
ECP is a famous company since it is best known for investing in the renewable energy sector to back up the much-needed transition to clean energy. A recent report states that ECP completed the acquisition of Terra-Gen, a leading developer and operator of renewables. The money will help Terra-Gen next phase of its production.
ECP III originally acquired the renewable energy developer, Terra-Gen, over five years ago in partnership with an outstanding management team to get the renewable resources portfolio in California and work on the compelling opportunities. After the first investment, Terra-Gen improved its services, built a great portfolio, and expanded its renewables business in California and other local markets. Currently, Terra-Gen runs over 1,600MW of facilities which include over 3,000MW projects. It operates the Edwards Sanborn project, which is the biggest of its kind in the United States. Additionally, it owns two Nevada-based geothermal plants with a power capacity of 67 MW and 17.7 MW.
A partner in ECP, Schuyler Coppedge, commented on the latest acquisition claiming that ECP is excited to work with one of the biggest renewables companies in North America. And the management team is glad to be a part of Terra-Gen’s next phase of growth. Schuyler stated that one of the most promising sector Terra-Gen is taking include their storage assets and wind projects which will play a critical role in ensuring adequate renewable energy in California.
The continuation fund comes from several sources, including the Blackstone Partners and the ECP partners. They were all looking to invest in the leading renewable developer and operator in California. And Terra-Gen matches their requirements, and it features stable environmental and cooperative features. PJT also played a role in the acquisition process since it was the financial advisor while the Latham & Watkins firm was the legal advisors.
ECP acquisition of Terra-Gen is a bold but strategic move that gives both companies a chance to be part of a new era of renewables in the United States. Experts forecast great results thanks to the expertise in both companies and the availability of funds. The people are looking forward to this new venture and hope to enjoy great results from the partnership.https://zolalnews.com/