Element Power, a global developer, owner and manager of wind and solar power projects, has raised additional $183m of committed equity capital.
The investment includes commitments from institutional investors, sovereign wealth funds and Spanish investors. Advisors were Credit Suisse and Eaton Partners in the United States and Deutsche Bank in Spain.
The company intends to use the funding to grow wind and PV solar pipelines in the United States, South America and Europe.
Established in 2008 to develop, finance, construct and operate renewable energy projects globally Element Power is led by Executive Chairman Pedro Barriuso. A portfolio company of private equity firm Hudson Clean Energy Partners, Element has offices throughout Europe (Athens, Greece, Milan, Italy, London, UK, and Madrid, Spain) and North America (Portland, OR, Minneapolis, MN, and Charlottesville, VA) with experienced teams focused on developing wind and solar projects alone and under joint venture. The recently appointed Paolo Pietrogrande, former head of Enel Green Power, to lead Element Power Solar, a standalone business segment focused on capitalizing on significant global opportunities in markets where PV solar has sustainable growth potential based on prevailing electricity prices and solar resource.