NedPower enlists Marathon Capital to secure financing for Hydro Projects.
SPERRYVILLE, Va., Nov. 6, 2014 /PRNewswire/ — NedPower LLC, a buyer and developer of hydroelectric power plants, has enlisted Marathon Capital, a leading investment bank serving global energy and infrastructure markets, to secure development and project capital to fund NedPower’s acquisition of operating hydroelectric facilities and late stage development. Marathon Capital’s role will also include providing assistance in formulating financing for NedPower’s projects and identifying and securing prospective third party investors.
In announcing the relationship, Jerome Niessen, NedPower’s Managing and Founding Partner, said, “Marathon Capital’s excellent reputation and track record in financing renewable power projects will enable us to secure the financial backing needed to pursue the acquisition and late stage development of close to 250MW of small to medium sized hydro power projects we’ve already identified.”
Marathon Capital’s Managing Director Gary Greenblatt stated, “We believe the NedPower team has the strategy and experience to capitalize on the opportunities in the hydro segment of the energy market. We look forward to a long and mutually rewarding relationship.”
NedPower has been a developer of renewable energy projects since its founding in 1996 and is seeking to become a leading operator and developer of small and medium hydro power projects in the eastern U.S. NedPower is building a balanced portfolio through the acquisition and development of “orphan” operating hydro facilities that no longer fit an owner’s portfolio, “forgotten” operating assets such as hydro plants belonging to old textile or paper mills and late stage “greenfield” projects where developers lack the necessary capital or expertise to complete a successful project.
The NedPower team has a combined experience of over 100 years in developing, financing, owning and operating power projects worldwide, including wind farms, combined-cycle power plants and hydroelectric power facilities. Joining the NedPower team most recently as Managing Partner was John Stephens, formerly GE’s head of Global Power Project Development & Asset Management from 1996 until 2011.
Marathon Capital is a leading financial advisory and investment banking firm focused on providing financial advice in the areas of M&A, capital raising of debt and equity, project finance, tax equity, financial restructuring, recapitalization, bankruptcy and workout situations in the global energy and infrastructure markets.