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BOSTON, March 26, 2024 /PRNewswire/ — Renew Energy Partners (“RENEW”) announced the investment for its fourth investment vehicle: Renew Energy Efficiency Projects four (“EEPfour”). The special purpose vehicle has signed a revolving loan and security framework. (MRLSA) with Mitsubishi HC Capital America, Inc. RENEW is the majority investor in EEPfour. The special target vehicle will be used to finance a portfolio of projects that add energy efficiency, cooling, heating and power blending, distributed generation, microgrids, battery energy storage, thermal storage and electric vehicle charging stations for the commercial, commercial and institutional sectors. Clients. RENEW won a strategic expansion investment from Greenbacker Capital in 2022.
Immediately following the execution of the MRLSA, EEP4 acquired a majority stake in EEP3, RENEW’s third investment vehicle that includes the MACOM microgrid allocation in Lowell, Massachusetts, the Isla Frio cold garage power allocation in Puerto Rico, and $100 million in signed memorandums of understanding. for long-term business.
“The launch of our fourth investment vehicle, along with the acquisition of EEP3’s assets, RENOVATE to continue our project of making the decarbonization of the built environment financially compelling while continuing to invest in new projects and will now own them. We are guilty of 40% of all energy use in the United States. To meet national carbon relief goals, decarbonizing construction inventory is essential,” said Charlie Lord, director and co-founder of RENEW.
“We are proud to further expand our relationship with RENEW by building a credit facility for EEP4,” said Stéphane Arsenault, senior vice president of Sustainskill Finance at Mitsubishi HC Capital America. “RENEW has a talented control team and strong equity backing from Greenbacker Capital. “
The MACOM project is a combined cooling, heating and power (HPCC) formula in a semiconductor production plant. The CCHP formula is combined with a battery energy storage formula (BESS) and a microgrid controller. EEP3 owns one hundred percent of the assets and sells the measured force to the visitor at a discounted price. The microgrid formula has resulted in a very significant relief in carbon emissions, estimated at 1,869 tons per year. This is equivalent to the electricity consumption of 339 families for a year and the consumption of gas. Entry of 24. 7 tanker trucks.
The Isla Frio project in Cidra, Puerto Rico, is a Viking thermal thermal energy storage formula that leverages existing refrigeration appliances in low-temperature facilities to freeze phase replacement materials (PCMs) and create electrical arbitrage opportunities. Smart controls turn off refrigeration appliances during peak periods. energy prices, while PCM maintains temperature stability and reduces overall energy consumption. Annual carbon emission relief is estimated at 209 tons.
Renew Energy Partners, LLC (“RENEW”) RENEW is a national distributed generation, microgrid, and electric power company providing turnkey answers for decarbonization. RENEW is helping consumers reduce carbon and greenhouse fuel emissions through cost-effective responses that activate projects that come with HVAC retrofits, lighting upgrades, building control formula upgrades, as well as blank power generation and on-site battery storage. Visit https://www. renewep. com
Mitsubishi HC Capital America (“Mitsubishi HC Capital America”)
Mitsubishi HC Capital America is a broad-based advertising finance corporation in North America with its subsidiary, Mitsubishi HC Capital Canada, combining consulting technology and a broad virtual platform to help organizations of all sizes drive growth. With $7. 5 billion in assets and more than 800 employees, the company is the largest non-bank and non-captive advertising finance company in North America. Mitsubishi HC Capital America partners with equipment manufacturers, dealers and distributors, as well as end customers, to provide custom-designed financial solutions. adding funding for transportation and advertising. Dedicated to the communities in which it operates, the company is committed to achieving the United Nations Sustainable Development Goals. Visit https://www. mhccna. com/en-us
Greenbacker Development Opportunities Fund I, LPGreenbacker Development Opportunities is a middle-market personal equity strategy that invests in the development of sustainable infrastructure platforms that serve high-value markets across the United States. The strategy is controlled through Greenbacker Capital Management, LLC. For more information, please https://greenbackercapital. com/greenbacker-development-opportunities
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SOURCE Renew Energy Partners LLC