Renova operates investment platforms in key energy and water sectors.  The result has been a track record of successful investments that include:  

2015 - present: Renova Power Networks, LLC

Renova founded Renova Power Networks in 2015 to address deficiencies in the aging and outdated power grid.  RPN is developing and financing a pipeline of projects using state-of-the-art generation, energy storage and control technologies.  Once operational, the projects will  reduce a system's operating expenses, extend the life of aging infrastructure, maintain system stablity, guard against cyber attacks, minimize outages and significantly diminish the system's carbon footprint through reduced reliance on traditional sources of power. Learn more at www.renovapowernetworks.com.

 

2013 - present: Ensyn Development Partners, LLC

In 2013, Renova formed Ensyn Development Partners (EDP), a joint venture with Ensyn Corporation. Ensyn is a U.S. Company, founded in 1984, that uses market leading, commercially proven technology for the production of low-carbon fuels produced from non food biomass.  Through EDP, Renova is helping to expand Ensyn’s production capacity throughout the U.S.  Ensyn and Renova are executing their business plans in alliance with key strategic relationships including Honeywell UOP, Roseburg Forest Products, Credit Suisse, Chevron Technology Ventures, Fibria Celulose, and Arbec Forest Products.

EDP projects range in size from from $60 million to $140 million.  The most advanced project is a $140-million, 20-million gallon per year facility being developed in Georgia.   The Georgia facility will sell biocrude to oil refineries and other industrial customers.   Definitive off-take agreements have been executed or are in the final stages of negotiation.  EDP secured a $70-million loan guarantee commitment from USDA for the project, and has engaged Citi as a primary project lender. Permits and a guaranteed maximum price are in hand, and construction activities are scheduled to begin in mid 2017.

For more information about Ensyn, click here.

2011 -2012: Centennial Renewable Power, LLC

In 2011, Renova established Centennial Renewable Power, a joint venture with Energy Capital Partners (ECP), a leading U.S. private equity firm with over $13 billion in capital commitments. Centennial’s mission was to exclusively deploy up to $250 million from ECP’s second Fund into the development of base-load renewable energy infrastructure. As Managing Partner, Renova conducted detailed due diligence on over $2 billion of potential investment opportunities in 2011 and 2012. In 2012, ECP was required to accelerate and complete the deployment of its second fund in order to accept new commitments to a third fund - its largest to date. As a result, ECP and Renova wound up Centennial and monetized its investments.

2008 - 2015: Main Street Power Company

Renova founded Main Street Power Company in 2008 to address a growing demand for financed rooftop solar power systems.  Renova created an innovative financing strategy to aggregate multiple small, unrelated projects into a single financing, and then further aggregate these development tranches into a portfolio of performing assets across North America.  This new financing strategy attracted a programatic equity commitment from Morgan Stanley to build up to $500 million of solar assets using Morgan Stanley equity and a variety of lenders.  The approach proved successful, resulting in over $300MM of commercial and municipal-based assets alone.

Responding to a new market demand in 2012, Main Street formed North America’s first commercial residential solar leasing fund under the MySolar brand, with Morgan Stanley as its exclusive equity sponsor.  An inaugural $50-million MySolar fund was created to support Clean Power Finance in San Francisco, and was then followed by additional funds established in support of NRG, Vivint Solar and OneRoof Energy.

Main Street sold its Canadian portfolio to Potentia Solar in 2013.  Then in 2015 Main Street, including its development platform and U.S. asset portfolio, was sold to AES (NYSE: AES), and is now branded as AES Distributed Energy.