Ethical Power Group, Napier Park Global Capital, and Lynher Energy have formed a joint venture. This joint venture will invest in large-scale storage and solar assets in Europe, the U.K., and elsewhere in Europe. Ethical Power will serve as the servicer for the joint venture. This includes providing services related to development, construction and operations, maintenance, and asset management.
The partnership will invest in assets that Ethical Power can use to bring its vast experience in the design, optimization, and construction of renewable energy project.
“I am very excited that Ethical Power will have the opportunity to work with a partner such as Napier Park, which has an extensive record in sponsoring industry-leading joint ventures in long-lived assets and working constructively with entrepreneurial management teams such as ours in achieving shared success,” says Tom Kneen, Ethical Power’s CEO and founder. “This joint venture will give us a real opportunity to capitalize on the extensive experience we have gained over a decade of working in the sector. It will also allow Ethical Power to accelerate the growth of our European teams and move into new markets thus achieving our target of becoming an international renewable energy generator.”
The venture will invest to acquire assets that will be part of global strategies for reducing carbon consumption and transitioning the world to green energy. Napier Park and its Real Assets program are focusing their resources on the global green energy transition. Napier Park plans on funding the investment from its Multi-Asset Fund.
“We are thrilled to announce this new alliance with Ethical Power, who has deep experience in the development and construction of solar and battery assets and is an ideal partner in this program,” adds Chris Sparrow, principal at Napier Park. “This new venture represents a continuation of our strategy to partner with leading businesses in equipment asset classes where we see the opportunity to provide our investors with strong yields and attractive risk-adjusted returns.”