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New Energy Capital
New Energy Capital was founded to invest in renewable energy infrastructure, with a focus on middle-market transactions in the United States.
New Energy Capital
New Energy Capital was founded to invest in renewable energy infrastructure, with a focus on middle-market transactions in the United States. The firm's origins trace to a group of energy finance professionals who identified a gap in project capital for smaller-scale wind, solar, and distributed generation assets that were too large for venture capital but too small for major project finance lenders. The firm deploys capital across the capital structure, including senior debt, subordinated debt, and equity, with a typical investment size between $10 million and $50 million per project. Sectors covered span utility-scale solar and wind, behind-the-meter solar, and energy storage. The firm has backed projects developed by long-term partners, including distributed solar portfolios and community solar installations. New Energy Capital operates from its Hanover, New Hampshire headquarters. The team includes professionals with backgrounds in energy project finance, commercial banking, and renewable energy development. The firm has not disclosed total AUM or a count of active professionals. A key structural differentiator is New Energy Capital's focus on the middle-market gap in renewable energy infrastructure — a space often overlooked by large institutional investors and pure-play project finance desks. The firm's dual debt and equity capabilities give it flexibility to structure deals that single-strategy players cannot replicate.
General information
Firm type
Infrastructure / Private Equity (clean energy)
Year founded
2004
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Hanover
Corporate office
Hanover, NH, United States
Principals
Scott Brown
Managing Director
David S. Frantz
Managing Director
Sector focus
Frequently asked questions
Who runs investment decisions at New Energy Capital?
Scott Brown and David S. Frantz serve as Managing Directors and lead the firm's investment activities. The firm has not publicly disclosed a formal committee structure or CIO role.
How does New Energy Capital source proprietary deal flow?
The firm sources deals primarily through long-standing relationships with developers of middle-market renewable energy projects. They focus on off-market and relationship-driven transactions.
Is New Energy Capital structured as a family office or an institutional asset manager?
Public records characterize New Energy Capital as an asset manager specializing in renewable energy infrastructure. It does not present itself as a family office.
What investment stages does New Energy Capital typically target?
The firm targets late-stage development through operational assets, providing construction debt, term loans, and equity for projects that have secured necessary permits and offtake agreements.
Does New Energy Capital participate in fund commitments or only direct deals?
The firm appears to invest through funds and direct co-investments, financing individual projects across the capital stack. It has not publicly disclosed a specific fund commitment strategy.
Which sectors does New Energy Capital explicitly avoid?
The firm focuses exclusively on renewable energy and energy transition assets. It does not invest in upstream oil and gas, mining, or conventional power generation.
Where does the underlying capital at New Energy Capital come from?
The firm's investor base includes institutional limited partners, but specific allocations or wealth origins have not been publicly disclosed.
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