[Context: On September 23, EnCap announced hiring four new power and renewables experts to invest in lower-carbon energy systems, such as solar, wind, and natural gas. Certainly not the first PE firm to make such an announcement, still it’s suprising. Quantum Energy announced hiring a renewables partner in mid 2018 and Riverstone and other large PE firms have renewables and oil and gas portfolios. Further details and related links are below.]
EnCap Investments to Pursue Energy Transition Opportunities
HOUSTON–September 23, 2019–(BUSINESS WIRE)–EnCap Investments L.P. (“EnCap”), a leading source of venture capital to North America’s independent energy sector, announced today it is pursuing opportunities created by the global transition to a lower-carbon energy system, including power generation via solar, wind and natural gas opportunities enhanced by the implementation of low-cost, proven battery storage systems.
EnCap has hired a team of four industry experts to lead its Energy Transition efforts. This team includes: Jim Hughes, Tim Rebhorn, Shawn Cumberland and Kellie Metcalf. These four industry veterans have more than 110 years of combined experience in the power and renewable sectors, including more than 80 years of executive level experience. The members of EnCap’s Energy Transition team previously worked together as colleagues at one or more firms and bring complementary skill sets that include a combination of experience in project origination and development, M&A and finance, power trading and marketing, operations and administration.
“Fossil fuels will continue to play an essential role in meeting global energy demand in the coming decades. However, renewable energy sources are poised for rapid growth. In fact, renewables are projected to be the fastest growing source of electricity generation in North America,” said EnCap Managing Partner Doug Swanson. “Similar to our move into the midstream space 10 years ago, we believe the market dynamics in renewables will present very exciting investment opportunities for our firm.”
EnCap Managing Partner Jason DeLorenzo added, ”When we decided to begin exploring renewables, we knew we needed to bring on a world-class team to lead this segment of our business – a team with deep experience and contacts, outstanding skills and a highly successful track record. No one matches this profile better than the team of Jim Hughes, Tim Rebhorn, Shawn Cumberland and Kellie Metcalf.”
About EnCap Investments
Since 1988, EnCap Investments has been the leading provider of venture capital to the independent sector of the U.S. energy industry. The firm has raised 21 institutional investment funds totaling approximately $37 billion and currently manages capital on behalf of more than 350 U.S. and international investors.