Greenbacker Capital invests in hydropower

20 January 2021


Greenbacker Capital Management, LLC has announced details of an investment in Clear Energy Hydro, owner and operator of hydroelectric facilities in New York state, US.

Through an affiliated fund, Greenbacker made a strategic investment in an affiliate of Clear Energy Hydro, signalling the investment firm’s commitment to supporting the increased adoption of hydropower as an alternative to fossil fuel generation, as well as its focus on clean energy development in New York State.

The transaction was the fourth investment for the Fund, which was established in 2020 to provide flexible capital to small- and medium-size renewable energy infrastructure companies that are focused on developing distributed power facilities serving high-value markets across the United States. The Fund leverages Greenbacker Capital’s extensive experience and expertise in financing, engineering and operations.

“Hydropower is a crucial part of the renewable energy landscape across the United States, and Greenbacker is proud to support it,” commented the Fund’s Managing Director and Principal Benjamin Baker. “We believe that Clear Energy Hydro, with its strong management team and unique ability to optimize assets through both physical rehabilitation and revenue model enhancement, will be an important player in the market. We look forward to working with the Clear Energy Hydro team towards our mutual success.”

Headquartered in the Denver area and led by partners Matthew Wenger and Michael Prendergast, Clear Energy Hydro acquires existing hydropower facilities and invests in their modernization. The company currently owns three facilities in New York and plans to use the proceeds from the Greenbacker loan to modernize those stations, as well as to acquire additional plants in the state.

 



Privacy Policy
We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.