Pure-play renewable energy infrastructure investor Excelsior Energy Capital announced the final close of its inaugural fund, Excelsior Renewable Energy Investment Fund I LP. The fund generated total capital commitments of $504 million, ahead of its initial $500 million target.
According to Excelsior, the fund will invest equity in middle-market wind and solar power plants across the United States and Canada. To date, the Fund has made seven investments comprised of 27 solar and wind projects across five US states, with a combined nameplate capacity of 192 MW.
Chris Moakley, Managing Partner of Excelsior Energy Capital, said;
“My partners and I are thrilled to achieve this exciting milestone, and everyone at Excelsior Energy Capital looks forward to continuing to execute on our proven strategy of investing in high-quality North American wind and solar projects. We feel incredibly fortunate to have the confidence of some of the most well-regarded limited partners in the world, and we look forward to helping them accomplish their investment and ESG objectives.”
Excelsior stated that the fund attracted a diverse base of limited partner investors from the US, Japan, Europe and the Middle East, representing a blue-chip roster of pension plans, fund-of-funds, diversified asset managers, leasing companies, family offices, endowments and other financial institutions.