Greencoat Capital plans USD-5bn US renewables spending over 5 years

Wind farm in Illinois. Author: Chauncey Davis. License: Creative Commons, Attribution 2.0 Generic

October 18 (Renewables Now) - UK renewable energy infrastructure investor Greencoat Capital LLP will pour USD 5 billion (EUR 4.3bn) in the US over the next five years as it plans to expand its operations there.

The company, which has roughly USD 10 billion of assets under management, on Thursday announced the opening of offices in New York and Chicago. The move is aligned with prospects for “significant” growth opportunities in the US amid the current peak of renewables buildout that in turn sets the stage for “secure income” investment, Greencoat explained.

So far this year, the UK investor has deployed USD 500 million to take a 24% stake in an 861-MW wind portfolio in South Texas and an 80% interest in 405 MW of wind farms in Illinois.

“It’s a uniquely exciting time to be entering the US market as the country hits the inflection point of renewables growth,” said Laurence Fumagalli, Greencoat Partner.

Ciaran O’Brien will continue chairing Greencoat’s US operations, while David Boyce has been appointed as head of the business.

On a global scale, Greencoat manages investments in over 200 wind, solar and bioenergy assets with a combined capacity exceeding 3 GW.

(USD 1.0 = EUR 0.862)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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