Kayne Anderson Capital Advisors, L.P. (“Kayne” or the “Firm”), announced today the continued expansion of its renewable investment platform with a series of solar investments in the second quarter. Over the last several years, Kayne has leveraged the firm’s deep energy and infrastructure expertise to expand its investment platform to pursue opportunities in renewable power and infrastructure. The firm has named Jon Levinson and J.C. Frey co-heads of Kayne’s renewable platform with Mr. Levinson leading the private renewable efforts and Mr. Frey leading the public markets strategies.
“The energy industry is experiencing an unprecedented transition, and the rapid growth of renewables is creating attractive, risk-adjusted investment opportunities today and we expect this to continue for decades,” said Mike Levitt CEO of Kayne Anderson. “Just like Kayne became one of the leaders in energy infrastructure investing over twenty years ago, we plan on becoming a leader in renewables as well by building first-class investment teams, capabilities, and strategies to take advantage of the extraordinary secular growth in renewable power and infrastructure.”
In the second quarter alone, Kayne’s private renewables team has completed the following transactions:
- Led the $190 million convertible note issuance by Sunnova, one of the largest residential solar providers in the United States;
- Structured and led the construction loan facility for Centerfield Cooper Solar, a 98MW utility scale solar project in Chesterfield County, South Carolina;
- Commenced construction and closed on the construction loan, permanent debt, and tax equity financings for Harts Mill Solar, a 112MW utility scale solar project located in Edgecombe County, North Carolina. Kayne previously acquired Harts Mill in December 2019, and the project was developed in conjunction with Birch Creek Development and Pine Gate Renewables, which will also act as the EPC contractor.
“We have spent multiple years exploring ways to structure attractive investments in renewable energy and we have established a strong pipeline of opportunities, particularly in U.S. solar,” said Jon Levinson, Managing Partner and co-head of Renewables. “We are very pleased to execute these initial transactions, particularly in light of the challenges presented by the ongoing COVID-19 pandemic. These transactions are each different in nature, but they all required the agility, creativity, and deep market knowledge that is emblematic of Kayne’s approach to renewables. We look forward to continuing to provide such creative solutions to renewable energy developers as we grow our efforts in this market.”
About Kayne Anderson
Kayne Anderson Capital Advisors is a leading alternative investment management firm focused on infrastructure, real estate, credit and private equity. Kayne’s investment philosophy is to pursue niches, with an emphasis on cash flow, where the firm’s knowledge and sourcing advantages enable an ability to deliver above average, risk-adjusted investment returns. Kayne manages over $27 billion in assets (as of 3/31/20) for institutional investors, family office, high net worth and retail clients and employs nearly 370 professionals in five offices across the US.