Excelsior Energy Capital is a pure-play renewable energy infrastructure fund focused on long-term investments in operating wind and solar power plants in North America. The Excelsior Energy Capital team has a proven track record, as a group executing over $2.5 billion of equity investments across 2 GW of operating wind and solar projects. The team brings a comprehensive set of financial, legal, strategic and operational expertise – making Excelsior Energy Capital a valuable partner for developers and operators, and a trusted manager for investors.
Wind and solar is at last an established asset class. Technology efficiencies and installed costs have evolved to a point where wind and solar plants can compete with conventional generation such as natural gas and coal. Long-term federal tax policy and increasing state-level renewable portfolio standards are further supporting industry growth. As a result, installed capacity is expected to double as U.S. solar and wind project installations are forecasted to grow by over 120 GW by 2021 according to Bloomberg New Energy Finance. There is now extensive inventory of attractive assets presenting stable investments for institutional investors.
Excelsior Energy Capital plans to target investments in de-risked North American wind and solar power plants which possess fixed income-like cash flows from long-term revenue contracts with credit-worthy counterparties. Excelsior Energy Capital’s team will originate investment opportunities from its network of relationships established from years of experience in the industry and largely focus on bilateral transactions with select parties. Investments will range from assets which are approaching financing and construction, to assets which have several years of operating history.
With investments in operational projects, Excelsior Energy Capital’s hands-on asset management team will enhance value through refinancings, project agreement renegotiations, performance improvement measures, cost reduction measures and other strategies. With investments in pre-construction projects, Excelsior Energy Capital will bring permanent capital solutions along with expertise in financial structuring, project agreement negotiations, construction management and overall risk management.
Excelsior Energy Capital focuses on equity investments in the solar and wind utility and distributed generation middle market, which is currently underserved and presents a diverse and attractive set of investment opportunities. Given Excelsior Energy Capital’s exclusive geographic focus in North America, the team has the expertise and resources to access this middle market, and allocate time to diligence and execute on the acquisition of high-quality assets. In contrast to many investors in the industry, Excelsior Energy Capital will hold investments for on average greater than ten years, aligning with institutional investors who have long-term investment horizons. Through this combined investment and operating approach, Excelsior Energy Capital will deliver attractive risk-adjusted returns in the renewable energy asset class.
Excelsior Energy Capital will specifically target investment opportunities which meet the following criteria: