New York, August 22, 2018. Greenwood Energy (www.gwenergy.com), the North American solar energy investment and development subsidiary of the Libra Group, has completed two solar project portfolio financings with ORIX Corporation USA (ORIX USA). Greenwood Energy was advised during the transaction by Marathon Capital.
The U.S. renewable energy market is a multibillion-dollar sector. A global focus on clean power, where many U.S. developers lead the field, has given rise to new solutions with improved technology offering greater efficiencies year upon year. Greenwood Energy has been operating in the clean energy industry sector since 2010 and has developed 36 solar energy projects across eight U.S. states in excess of 100 MW. The company represents a key part of the Libra Group’s commitment to renewable energy in the Americas. ORIX USA has been investing in the U.S. solar industry since 2015, with a focus on the commercial, industrial and small utility-scale sub-sector.
Greenwood Energy Managing Director Jon Cole commented, “This commitment by ORIX USA represents a strong endorsement of Greenwood Energy and its commercial strategy for solar energy in the U.S. The U.S. energy market offers exceptional growth potential at an unprecedented moment for clean technologies. We look forward to capitalizing on this opportunity and working closely with ORIX USA as our business develops.”
“ORIX Corporation has a long history of investing in a broad array of infrastructure assets globally — including renewable energy generation,” said Josh Herlands, head of infrastructure and renewable energy at ORIX USA. “We are excited to work with Greenwood Energy on this project and other potential solar projects as these investments are synergistic with our U.S. solar investment strategy and our corporate purpose to steward a better tomorrow.”
About Greenwood Energy
Greenwood Energy (www.gwenergy.com) is one of the clean energy subsidiaries of the Libra Group (www.libra.com), a privately owned international business group spanning 35 countries across six continents and active in renewable energy, aviation, hospitality, real estate and shipping as well as selected diversified investments. Greenwood’s business is focused on investment, development, and operation of utility-scale solar energy projects. Its sister company, Greenwood Energy Latinoamérica (www.greenwoodlatam.com), provides on-site solar energy systems for public and private sector organizations wishing to offset their energy costs. The Libra Group also owns a manufacturer of clean-burning engineered fuel in the USA, and has investments in power and steam generation facilities, including biogas plants in Latvia. Libra subsidiary, EuroEnergy, operates solar farms and wind parks across Europe.
ORIX Corporation USA (ORIX USA)
Since 1981, ORIX USA has provided innovative capital solutions that clients need to propel their business to the next level. ORIX USA and its subsidiaries—Boston Financial Investment Management, Lancaster Pollard, Mariner Investment Group, RB Capital and RED Capital Group—include a team of more than 900 employees spanning more than 30 offices across the U.S. and Brazil. ORIX USA and its family of companies have $57 billion of assets under management, administration and servicing (including $8.6 billion held by the company and its subsidiaries). Its parent company, ORIX Corporation, is a publicly owned international financial services company with operations in 38 countries and regions worldwide. Through its business activities, ORIX has long been committed to corporate citizenship and environmental sustainability. ORIX Corporation is listed on the Tokyo Stock Exchange (8591) and New York Stock Exchange (IX). For more information on ORIX USA, visit www.orix.com.
Ben Finzel, RENEWPR, for Greenwood Energy