Merger of Greenwood Energy and GoldenSet Capital Partners
New Firm Merges Pioneering Sustainable Infrastructure Investment Managers GSI will focus on interrelated energy, waste and water investments
Investment managers behind the world’s first fully solar-powered amusement park and the first U.S. wind project repowering announced today they have merged to create Greenwood Sustainable Infrastructure LLC (“GSI”), which will focus on developing, managing and investing in projects encompassing the three interrelated sectors of energy, waste and water.
GSI combines investment managers GoldenSet Capital Partners LLC and Greenwood Energy, a Libra Group subsidiary, offering collectively nearly 100 years of experience and a focus on sustainable infrastructure projects since 2009. That includes creating 17 portfolio companies consisting of 90 wind and solar projects producing roughly 300 megawatts, establishing a methodology that will now be applied to the considerable market opportunity in North America.
GSI’s projected portfolio will feature renewable power generation and storage, recycling, water treatment and filtration and other technologies that preserve oceans and waterways while reducing greenhouse gas emissions and waste.
“Together, we will help shape a clean economic future by developing and investing in multiple small to mid-size projects that together can serve our communities and make widespread infrastructure decarbonization and resiliency a reality,” said Everett Smith, who founded GoldenSet Capital Partners and is now leading GSI as its managing partner. “Our sustainable infrastructure strategy can offer reliable returns amid broader market volatility, along with quick lead times and economic activity in areas affected by recession and unemployment.”
The GSI leadership team’s track record includes New Jersey’s largest behind-the-meter commercial and industrial solar project at Six Flags Great Adventure, the world’s first fully renewable energy-powered amusement park. It also includes (at time of construction) the largest solar project in Vermont – located at a former copper mine and EPA Superfund site – and the largest rooftop solar power project in Massachusetts, as well as the first U.S. wind project repowering.
“We have decades of experience identifying, developing and managing sustainable infrastructure projects in previously untapped areas,” Smith said. “We invest across the entire project lifecycle and understand the risks inherent in each phase, something that few investors have the experience to do consistently and successfully. This adds up to greater financial returns and a growing number of the kinds of sustainable infrastructure projects that can be aggregated to build larger portfolios that have even greater impact.”
GSI’s investment managers will continue their focus on small- to midsize projects using proven technology, emerging business models and innovative financing structures often overlooked by others, while broadening sustainable infrastructure investing beyond renewable energy to include efforts to clean up water and reduce and reuse waste.
GSI will be a member of Libra Group, a privately-owned international business group that is active in 35 countries and focused principally on energy, hospitality, real estate, shipping and aviation. In addition to its solar and wind energy experience in the Americas, the group has invested in solar energy parks, wind farms and biogas production facilities in Europe.
Smith, whose 40 years’ experience in energy and infrastructure investment includes more than 15 years in a variety of senior positions at GE Capital, will be joined by a team led by GoldenSet Partner Robert Pryor and Greenwood Energy Asset Management and Business Development Director, Mazen Turk. GSI’s board and senior advisors will include Libra Chief Strategy Officer Phaedra Chrousos and General Counsel Bert Diaz.