Alternative investment firm Forum Equity Partners and New Jersey-based National Energy Partners have signed an agreement under which Forum will provide NEP with up to $15 million in growth financing. The investment will be used to cover capital and construction costs for NEP's rapidly growing portfolio of solar projects, including ground mount and rooftop installations.
“We are delighted to be entering into this partnership with NEP,” said Forum Equity Partners CEO Richard Abboud. “Forum is committed to partnering with leading developers in the renewable energy sector to provide development capital and construction equity solutions necessary to help finance growth.”
With approximately $1.3 billion in assets under management, Forum consistently ranks among the top 1% of alternative investment managers in terms of cumulative return on invested capital. The firm has worked with NEP to develop an investment structure that will allow quick advancement for NEP’s pipeline of development and construction, which consists of distributed photovoltaic solar generation systems for commercial and municipal customers.
“With this significant investment commitment from Forum, NEP can systematically pursue the rapid development of our pipeline of distributed photovoltaic solar generation systems,” said NEP CEO Jeremy Conner. “Partnering with Forum, we are now well positioned to continue expanding and pursuing a number of exciting projects across our core markets.”
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