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Bailey McCann, Opalesque New York: Private equity firm NGP has closed its latest real assets vehicle - NGP Sustainable Real Assets with $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.
"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," said Sam Stoutner, NGP Partner.
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.
The three investments include - Segue Renewables II, Cloverleaf Infrastructure, and CO280 Solutions.
Segue invests in development-stage energy transition projects and the infrastructure enabling them. Segue Renewables II is the second partnership between the Segue management team and NGP. Cloverleaf develops clean-powered, ready-to-build sit...................... To view our full article Click here
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