Empower Retains Marathon Capital To Raise Equity For DG Portfolio

Posted by SI Staff on September 10, 2015 No Comments
Categories : Projects & Contracts

Empower Energies Inc. has retained Marathon Capital as its financial advisor to raise cash equity financing consisting of limited partnership interests for the company's distributed generation (DG) fund.

The DG fund is being formed to acquire and aggregate commercial and industrial photovoltaic solar and combined heat and power projects originated and developed by Empower and its co-development partners over the next 24 months.

The company has secured term sheets for tax equity and debt financing and is now launching a process to secure equity financing for the DG fund from cash equity investors. Tenor Capital, the principal investor in Empower Energies through the private investment funds it manages, will be the general partner and investment advisor for the DG fund. Marathon Capital will be seeking additional cash equity from qualified institutional investors to invest alongside Tenor Capital's investors.

The DG fund is expected to comprise up to 80 MW of completed projects. Empower's pipeline currently consists of over 150 MW of solar and other renewables projects at various stages of development.

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