Advanced Energy Capital Acquires Stake in Greenbacker Group
Advanced Energy Capital (AEC), an energy finance company, announced it has acquired a stake in Greenbacker Group, which, through its subsidiary, Greenbacker Capital Management, is the manager of the Greenbacker Renewable Energy Company, a NY-based company focused on investments in the renewable energy sector.
AEC said it will originate and help underwrite energy efficiency and energy storage finance transactions for its investors and it is anticipated that Greenbacker Renewable Energy will participate in those deals as it continues its $1.5 billion raise.
The partners at AEC, in their 25 years together, have financed hundreds of millions of dollars of credit transactions.
“AEC is currently in talks with over a dozen energy efficiency and energy storage companies with the goal of assisting them finance their project pipelines, as well as their operating platforms” says Rick Rudy, principal of AEC.
AEC is a specialty finance firm dedicated to providing financing solutions to energy efficiency, energy storage, renewable energy and retail energy businesses.
Greenbacker is an asset management company that intends to bring investment products to the renewable energy and energy efficiency sector.