American Wind Capital Company Announces Significant Equity Commitment From Barclays Natural Resource Investments and NGP Energy Technology Partners; Company to Acquire Royalty Payments Associated With Wind Power Projects
Posted on: Wednesday, 9 September 2009, 18:15 CDT
ESSEX, Conn., Sept. 9 /PRNewswire/ -- American Wind Capital Company, announced today that the Barclays Natural Resource Investments team of Barclays Capital, the investment banking division of Barclays Bank PLC ("BNRI"), a leading global financial services provider, and NGP Energy Technology Partners ("NGP ETP"), a leading private equity firm focused on the energy technology sector, have made a significant investment in American Wind Capital Company.
American Wind Capital Company is led by one of the most experienced teams in the wind and renewable power industry. The Company offers landowners that host wind or other renewable energy projects upfront cash payments allowing them to monetize their future rent payments.
"We have an experienced team that has developed a focused and disciplined strategic plan -- the financial backing of our world-class investors, the Barclays Natural Resource Investments team and NGP Energy Technology Partners, will give American Wind Capital Company the resources to successfully meet the needs of our customers," said Charles C. Hinckley, CEO of American Wind Capital Company.
"BNRI has invested in a number of industry leading management teams in the natural resources sector throughout the world. We firmly believe that it is management that delivers business success, especially in specialist sectors such as natural resources. We're looking forward to working with the team at American Wind Capital Company," said David Ellis, director of BNRI.
"NGP Energy Technology Partners focuses on investing in companies led by experienced management teams with a proven track record. American Wind has just such a team and is well positioned to benefit from, as well as promote, the continued growth of wind power," said Philip Deutch, Managing Partner of NGP Energy Technology Partners.
Barclays Natural Resource Investments
BNRI finds and partners with best-in-class operational management teams with specific expertise and significant experience and track-record within the global natural resources sector, primarily in upstream oil & gas, upstream mining, and power including renewables. Following substantial due diligence, BNRI typically commits US$50-100m to each management team to execute their business plans. This will, in general, be structured as a 'line of equity', whereby management teams identify potential asset and transaction opportunities and bring them to the board for discussion and approval. BNRI is an active investor and insists on board representation in every transaction we complete. BNRI has offices in London, New York and Sydney and is staffed with 15 investment professionals and a highly experienced advisory panel, including Tony Trahar, former CEO of Anglo American, Francis Gugen, former European CEO of Amerada Hess, and Mike Reynolds, former Managing Director of National Power.
NGP Energy Technology Partners
NGP Energy Technology Partners ("NGP ETP"), established in 2005, is a Washington, D.C.-based private equity firm investing growth capital in companies that provide technology-related products and services to the oil and gas, power and alternative energy sectors. NGP ETP, with $496 million in capital under management, is managed by investment professionals with extensive experience investing in virtually all types of energy technologies and a strong track record of helping companies grow, create value, and establish strategic partnerships. NGP ETP is affiliated with NGP Energy Capital Management, a $9.6 billion firm that invests in all sectors of the energy industry. www.ngpetp.com
American Wind Capital Company
American Wind Capital was formed for the purpose of purchasing long-term royalty payments from property owners who receive royalty income from wind and renewable power projects in the United States. Founded in 2008, American Wind Capital Company was established by veterans of the wind energy industry. Understanding the risks as well as the rewards inherent in the development of wind energy, American Wind Capital Company seeks to build a substantial investment in wind and renewable infrastructure. By working with landowners to purchase wind and renewable lease rights, American Wind Capital Company will create a portfolio of agreements with wind energy developers and operators nationwide. For more information see our website www.americanwindcapital.com
SOURCE American Wind Capital Company
Source: PR Newswire
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