Houston private equity firm EnCap Invesments has launched a new team to invest in renewables energy projects.
Citing a global transition to a lower-carbon energy system, EnCap said the four-person team is seeking to invest in solar, wind and natural gas projects enhanced by low-cost battery storage systems.
In a statement, EnCap Managing Partner Doug Swanson compared the private equity firm’s entrance into renewables to the 2008 launch of EnCap Flatrock Midstream, a fund that invests invests in oil & gas pipeline and storage terminal projects.
“Fossil fuels will continue to play an essential role in meeting global energy demand in the coming decades,” Swanson said. “However, renewable energy sources are poised for rapid growth. In fact, renewables are projected to be the fastest growing source of electricity generation in North America.”
EnCap’s renewables team will be led by industry veterans Jim Hughes, Tim Rebhorn, Shawn Cumberland and Kellie Metcalf.
Hughes, Rebhorn and Cumberland served as executives at Prisma Energy Capital, a Houston private equity firm focused on investments in energy storage.
Metcalf was a senior director at Pattern Development, a San Francisco company that specializes in renewable energy and transmission projects.
Founded in 1988 and headquarted in Houston, EnCap Investments manages 21 funds with $37 billion on behalf of more than 350 institutional investors from around the world.
