Chaberton Energy Announces Investment from Greenbacker Development Opportunities Fund to Provide Development Capital for Renewable Energy Projects in the U.S. Mid-Atlantic
New York, NY, Nov. 11, 2020 (GLOBE NEWSWIRE) — Chaberton Energy Holdings, Inc. (“Chaberton Energy”), a renewable energy and sustainable infrastructure development company, is pleased to announce the closing of a corporate-level investment from Greenbacker’s Development Opportunities Fund I, LP (“Greenbacker”). The capital funding will support the growth of the company and the development of a portfolio of distributed generation solar projects (generally 1 to 5 MWac in size) in the Mid-Atlantic region.
“In Greenbacker, we found a like-minded partner who is as excited as we are about the growth of renewable energy in the mid-Atlantic, particularly in the distributed generation and community solar space,” said Stefano Ratti, President of Chaberton Energy. “We are excited for the opportunity to utilize Greenbacker’s investment to accelerate our efforts to develop clean, affordable, renewable energy projects.”
This is the second investment from the Greenbacker Development Opportunities Fund, which launched this year to provide flexible capital to sustainable infrastructure developers.
“Chaberton Energy is uniquely positioned to become a leader in the Mid-Atlantic, with an experienced and energetic management team, and a disciplined development approach” said Ben Baker, Managing Director of Greenbacker and newly appointed member of Chaberton Energy’s board of directors. “In a short amount of time and with very limited resources, Chaberton Energy has been able to establish a notable position in the market and, with our investment, we look forward to unleashing its full potential and building a regional leader in distributed solar generation.”
About Chaberton Energy:
Chaberton Energy develops renewable energy and sustainable infrastructure projects. Chaberton Energy was founded in 2020 to primarily develop distributed solar generation assets in the mid-Atlantic, from origination to ready-to-build. Its predecessor company, Chaberton LLC, was founded in 2011 and provided third-party development and advisory services to infrastructure developers, renewable energy companies, equipment and services suppliers, investment funds, government agencies, and non-profits. Chaberton Energy is based in Maryland and currently operates in Maryland, Virginia, and Pennsylvania. Please visit www.chaberton.com for more information.
The Greenbacker Development Opportunities Fund is a limited partnership that makes corporate debt and equity investments in sustainable infrastructure development companies. The Fund typically makes investments of $3 to $10 million and has a broad mandate to invest across the capital structure and across sustainable and renewable energy technologies.
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Although Greenbacker believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. Greenbacker undertakes no obligation to update any forward-looking statement contained herein to conform to actual results or changes in its expectations.