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Year Founded: 2005

AUM: $14.40B | Dry Powder: $3.43B

40 Beechwood Road, Summit, NJ 07901, US
Energy Capital Partners is a private equity investment firm that focuses on investing in North American companies operating in the energy infrastructure, power generation, renewable energy facilities, manufacturing, construction, financial services, cleantech, electric transmission, and midstream gas sectors

Key Contacts

  • Murray Karp
    Partner, CFO and COO
  • Rosanne Migliorino
    Family Office Chief Financial Officer and Managing Director
  • Jennifer Gray JD
    Managing Director, Counsel & Chief Compliance Officer

Investment Preferences

  • Preferred Industries
    Energy Infrastructure, Energy Marketing, Energy Storage, Energy Transportation, Multi-Utilities, Other Commercial Products, Other Commercial Services, Other Energy Services, Other Metals, Minerals and Mining, Other Utilities
  • Geographical Preference
    North America
  • Preferred Deal Types
    Buyout/LBO, Mezzanine, PE Growth/Expansion
  • Other Investment Preferences
    • Prefers majority stake
    • Seeks ESG investments
    • Will syndicate

Investments By Year

Source: Pitchbook

Funds Closed

ECP Continuation Fund
Vintage: 2022

Size: $1.6B

Dry Powder: $1.4B

Details: The fund invests in renewable sector & acquired 50% stake in US renewables developer Terra-Gen

Energy Capital Partners IV
Vintage: 2018

Size: $3.3B

Dry Powder: $1.1B

Details: The fund invests in energy, cleantech, industrial, TMT companies

Energy Capital Partners III
Vintage: 2014

Size: $5.1B

Dry Powder: $387.4M

Details: The fund invests in energy industries and its infrastructure asset preferences are renewable energy and oil & gas

Investments By Industry

Investments By Region

Source: Pitchbook

Key Investments

In October 2022, Ørsted A/S signed a deal with Energy Capital Partners to offload a 50% stake in the 862MW onshore wind and solar PV portfolio in the US for approximately $410 million. The project portfolio includes stakes in the Lincoln Land, Plum Creek and Willow Creek wind farms and the Muscle Shoals solar park

In September 2022, ECP through Bears Bidco Limited, acquired UK Waste Management Firm Biffa for £1.3 Billion. The Biffa Group operates across the breadth of the waste management process, including surplus redistribution, recycling, treatment, energy generation, collection and disposal

In August 2022, Energy Capital Partner owned Pivot Energy announced the acquisition of SGC Power, a Maryland-based community solar developer. Pivot develops, finances, builds, owns, and manages distributed energy projects. SGC Power involved in over 285+ solar projects, totaling over 2,845MW of solar energy capacity in over 31 states and territories

In August 2022, Energy Capital Partner completed the acquisition of solar and energy storage development business from Borrego for an undisclosed amount. The new company being renamed as New Leaf Energy, will be operated as an independent business by ECP. The company has a pipeline of 450 projects, comprising over 8.5GW of solar PV as well as 7GW/28GWh of energy storage projects and will continue its focus on distributed generation and utility-scale solar and storage following the sale to ECP

In July 2022, Energy Capital Partner acquired Metrus Energy, a pioneering energy efficiency provider in the building efficiency and sustainability space. Metrus provides innovative EaaS financing solutions for large-scale energy-efficiency and renewable-energy projects

In June 2021, Energy Capital Partner (ECP) acquired Pivot Energy, a national commercial and community solar developer that develops, finances, builds, owns, and manages solar and storage energy projects. With this strategic acquisition, ECP has obtained Pivot Energy’s robust distributed generation origination and development platform, which has delivered over 700 projects across 18 states and a 595MW solar pipeline, since its formation

In April 2021, Energy Capital Partner completed its first Continuation Fund for renewable partner Terra-Gen at $1.2 billion. Closing of the funds led to the acquisition of 50% interest held by ECP’s third fund, ECP III, while the remaining 50% stake is held by First Sentier Investors. Terra-Gen is a US renewables developer, which has over 1.6GW of assets in operation and 3GW of projects in advanced development

In December 2020, the Three Mile Island Unit-2 Nuclear Power Plant (TMI-2), part of FirstEnergy was acquired by EnergySolutions, via its financial sponsors TriArtisan Capital Advisors and Energy Capital Partners. The purpose of the sale was to complete the decommissioning process of the facility

Other Details

The firm focuses on existing and new-build energy infrastructure projects primarily in North America. The firm invests in power generation, renewables, midstream, environmental infrastructure and opportunistic energy sectors. It has committed $27 billion capital and has more than 600 limited partners globally. The firm has 69 employees across the globe with a collective 500+ years of energy industry sector experience

The firm’s latest open fund is ECP Energy Transition Opportunities Fund. The fund is seeking $500M to $1B to buy stock in clean energy-focused blank cheque companies through private investment in public equity deals. The fund will back special-purpose acquisition companies, or SPACs, that want to merge with providers of products and services that help reduce carbon emissions across the economy. The fund will be structured like a traditional limited partnership and look to make 10 to 15 PIPE deals

Access Industries, Advanced Emissions Solutions, AES, AlpInvest Partners, Avista Capital Partners, Bard Associates, Black Canyon Capital, Bregal Energy, Cardinal Gas Storage Partners, CIG Logistics, Citigroup, EDF Renewable Energy, EnergySolutions, PLH Group are some of the institutional investors who invest along with Energy Capital Partners

Source: WSJ.com, Businesswire, Company Website