rPlus Energies has announced a platform-level partnership with Sandbrook Capital, in which Sandbrook will invest up to $460 million in the company alongside continued support from rPlus founding investor Gardner Group.
rPlus’ 15 GW pipeline of renewable projects will be facilitated by Sandbrook’s initial commitment, enabling the company to bring an expected 1 GW of storage online in the near-term while advancing the pipeline balance.
“From the outset, it was evident that we share an execution-oriented and community-minded approach to business and project development,” says Luigi Resta, rPlus president and CEO. “The expertise, commitment and drive of the Sandbrook team, coupled with the Gardner Group’s continued leadership, will play a pivotal role in steering substantial growth as rPlus makes a strategic transition to own-and-operate for the long-term.”
Lazard Frères & Co. served as financial advisor to rPlus. Foley & Lardner served as transaction counsel to rPlus. Kirkland & Ellis served as transaction counsel to Sandbrook. Parr Brown Gee & Loveless served as transaction counsel to Gardner Group.
