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Year Founded: 2004

AUM: $2B | Dry Powder: $140.1M

53 South Main Street Third Floor Hanover, NH 03755, US

New Energy Capital Partners is an infrastructure firm founded in 2004 and is based in Hanover, New Hampshire. The firm seeks to invest in clean energy and infrastructure assets

Key Contacts

  • Scott Brown

    Founder and Partner (Chairman)

  • Patrick Fox


  • Bennett Collier


Investment Preferences

  • Preferred Industries

    Energy, Energy Services

  • Geographical Preference
  • Preferred Deal Types

    Buyout/LBO, Mezzanine, PE Growth/Expansion, Second Lien

  • Other Investment Preferences

    Prefers majority stake, Seeks Impact investments

Investments By Year

Source: Pitchbook

Funds Closed

Infrastructure Credit Fund II
Vintage: 2018

Size: $508.8M

Dry Powder: $94.5M 

Details: The fund focuses on solar, wind, energy efficiency, storage & water assets in North America

Infrastructure Credit Fund
Vintage: 2016

Size: $328.3M

Dry Powder: $36.2M

Details: The fund targets senior & mezzanine debt investments in the clean energy sector

Cleantech Infrastructure Fund
Vintage: 2010

Size: $120M

Dry Powder: $8.6M

Details: The fund focuses on cost- effective commercial technologies, renewable energy projects in the US

Investments By Industry

Investments By Region

Source: Pitchbook

Key Investments

In December 2021, Geenex Solar, a utility-scale solar developer focused on the PJM region in US, secured an undisclosed amount of financing from New Energy Capital to accelerate expansion into new markets

In May 2021, Horne Brothers Construction, a developer of solar projects was acquired by Pine Gate Renewables, via its financial sponsor New Energy Capital, through a $60 million LBO

In May 2020, Hecate Energy, via its financial sponsor New Energy Capital formed a joint venture with Independent Power. The name of the JV is Hecate Independent Power which is based in London, UK and is a provider of renewable energy project services

In December 2019, New Columbia Solar, a developer of solar energy projects received $10 million of development capital from New Energy Capital. The funding was used for additional staffing and the development and operation of 100 to 150 solar projects

In November 2018, SunEast Development, a developer and manager of clean energy projects received an undisclosed amount of development capital from New Energy Capital. The funds was used to support the continued development of a 105 MWAC solar portfolio acquired by SunEast in June 2018, and further accelerate the company’s solar development and acquisition efforts in the eastern US

In July 2017, Southern Current, a developer and installer of solar utility systems received an undisclosed amount of development capital from North Sky Capital, MMA Capital Management and New Energy Capital. The funding was used for project financing

In June 2016, Bluewave Barrett Project, a 16.5MW photovoltaic community solar project was acquired by Morgan Stanley, New Energy Capital and MMA Energy Capital through an LBO. Avidia Bank provided loan financing to support the transaction

In May 2014, Cypress Creek Renewables acquired FLS Energy, via its financial sponsor New Energy Capital, through an LBO for an undisclosed sum

Other Details

Founded in 2004, New Energy Capital (NEC), a Victory Capital Investment Franchise, is an alternative asset manager investing across the capital structures of clean energy infrastructure projects and companies. Till date, NEC has invested or committed more than $1 billion across more than 40 investments. New Energy Capital invests in diversified portfolios of power generation and energy assets with a focus on small-to mid-size projects and companies.

Altira Group, Black Coral Capital, Cypress Creek Renewables, Dentsu Group, Hitachi Kokusai Electric, Industrial Ecology Capital Management, Jesta I.S., Lightyear Capital, Morgan Stanley, Nippon Antenna, North Sky Capital, Novus Energy Partners, Poletowin Pitcrew Holdings, Sumitomo Electric Industries, VantagePoint Capital Partners, Victory Capital Management, Vision Ridge Partners, XPV Water Partners are some of the co-investors who invest alongside New Energy Capital Partners.

Source: Pitchbook, Company Website, Press Release