Milestone Transaction in Renewable Energy Investment
Excelsior Energy Capital, a renowned renewable energy infrastructure investor, has announced the successful sale of 38 solar and solar plus storage projects to BlackRock’s Evergreen Infrastructure Partners Fund. This transaction marks Excelsior’s inaugural fund’s first exit from its portfolio.
Strategic Investment and Growth
Excelsior Renewable Energy Investment Fund I LP, established seven years ago, exceeded its $500 million target capital commitments. The fund’s diverse investment portfolio includes solar, wind, and battery storage projects across 10 U.S. states, collectively generating over 3,000 GWh of renewable energy annually.
Testament to Expertise and Strategy
Chris Moakley, Managing Partner of Excelsior, expressed pride in the team’s achievement, emphasizing the validation of their distinctive approach to North American renewable power generation. Co-Founder and Partner Anne Marie Denman highlighted Excelsior’s capability to manage investments comprehensively, from origination to realization.
Portfolio Overview and Investment Strategy
The divested portfolio comprises operational solar and battery storage distributed generation projects with a combined capacity of 89 MWDC. These assets, forming a distinct sub-portfolio within Fund I, presented an attractive investment opportunity for BlackRock’s Evergreen fund.
Strong Advisory Support and Partnerships
Excelsior received strategic counsel from Akin Gump, Morgan Stanley, and KeyBanc Capital Markets, while BlackRock was advised by Latham & Watkins, KPMG, Natural Power, and Thorndike Landing.
As the renewable energy market continues to evolve, transactions like this one underscore the sector’s dynamism and potential for growth. Excelsior’s strategic divestment reflects its commitment to driving positive change in the energy landscape while delivering value to investors and stakeholders.
About Excelsior Energy Capital: Excelsior Energy Capital specializes in middle-market investments in renewable energy infrastructure across North America. With over $1 billion in equity capital across two active funds, the firm offers comprehensive strategic, financial, legal, and operational expertise to developers, operators, and investors alike.
Source：businesswire.com
