Napier Park Global Capital and Ethical Power Group have formed a joint venture, Lynher Energy, which will invest in large-scale solar and battery storage assets in the U.K. and Europe
Ethical Power will act as servicer to the joint venture, including the provision of services relating to development, construction, operations and maintenance, and asset management.
The partnership intends to invest in development assets to which Ethical Power can bring its extensive experience in the design, optimization and construction of renewable energy projects.
“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 in assets that will form a part of global strategies to reduce carbon consumption and transition the world to green energy sources. Napier Park and its Real Assets investment program are focusing resources to the global green energy transition and to this partnership. Napier Park plans to fund the investment in the venture 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.”
