EverStream Capital Management provides equity and structured debt solutions to energy infrastructure developers for projects across the development cycle. We seek project investments that are in the later stages of development or are already operational. Most of our investments to date have been in the solar, wind and gas sectors, but we continually evaluate other areas of sustainable eEverStream Capital Management provides equity and structured debt solutions to renewable energy infrastructure development companies and sustainable infrastructure assets across the development cycle. Most of our investments to date have been in the solar and wind sectors, but we continually evaluate other areas of sustainable energy infrastructure both traditional and emerging, including storage waste-to-value, waste treatment, efficiency, etc. Contact us to find out more about investment opportunities.
EverStream prefers to invest in projects that utilize proven technologies; have an extensive, useful life; maintain long-term offtake agreements with creditworthy counterparties; and generate stable and predictable cash flow streams once completed and operational. We provide financing to experienced developers who may find the investment community overly rigid or inflexible to their needs, or whose assets may fall outside of the range of other energy and infrastructure funds.
In 2012, EverStream Capital Management created EverStream Yield, a solar/wind asset aggregation and cash dividend paying company (often referred to as a "YieldCo"), which sold to SunEdison (NYSE: SUNE) in 2013, went public in 2014 under the name TerraForm Power (NASDAQ: TERP) and sold majority stake to Brookfield Asset Management in 2017 who maintained is listed status under the TerraForm brand.
In 2015, EverStream Capital Management helped to start and launch TerraForm Global, a second YieldCo with a primary footprint in emerging market countries. The company went public in 2015 under the name TerraForm Global (NASDAQ: GLBL) and sold in entirety to Brookfield Asset Management in 2017 who de-listed the company and maintains the business as a private enterprise.
In 2019, EverStream consolidated several of its development teams and renewable energy assets and pipeline into Enfinity Global, a company founded in 2005, acquired by EverStream in 2013, restructured and re-capitalized in 2019.
|Regulus, Adobe, Orion I, Orion II||Exited||California, USA||March 2013||154 MW|
|Montessori Project||Exited||Italy||March 2014||2.3 MW|
|San Andrés Project||Current||Chile||March 2014||51 MW|
|Sunway Projects||Exited||Italy||March 2014||5.7 MW|
|Digos, Clark and Concepcion Projects||Current||Philippines||May 2014||28.6 MW|
|Tohoku 1||Current||Japan||May 2014||31 MW|
|Tohoku 2||Current||Japan||August 2014||36 MW|
|Sighten, Inc.||Current||California, USA||July 2014||-|
|Tohoku 3||Current||Japan||September 2014||18 MW|
|Tohoku 4||Current||Japan||January 2015||56 MW|
|Kyushu 1||Current||Japan||January 2015||21 MW|
|Tohoku 5||Current||Japan||May 2015||30 MW|
|Kansai 1||Current||Japan||May 2015||6 MW|
|TerraForm Global||Exited||Global||May 2015||841 MW|
|Comanche Project||Exited||Colorado, USA||July 2015||156 MW|
|Chugoku 1||Current||Japan||April 2016||36 MW|
|DG Solar||Current||USA||July 2016||11 MW|
|Kyushu 2||Current||Japan||November 2016||35 MW|
|Kansai 2||Current||Japan||July 2017||29 MW|
EverStream arranged, structured, and managed a $67m investment vehicle to fund project development for central California: Adobe, Regulus and Cascade projects. The loan allows for the flexible use of funds, but is secured by specific late-stage projects. All projects in the collateral pool are in California and have investment grade offtake counterparties.
In Q4 2013, EverStream acquired San Andres, a 50MWp utility-scale solar project located in the Atacama desert. San Andrés was awarded the 2013 Latin America Solar Project Finance Deal of the Year by Euromoney’s Project Finance Magazine.
EverStream acquired an operating portfolio of rooftop and ground mounted solar projects in Italy from our strategic development partner Enfinity.
EverStream provided structured debt financing to our strategic Philippines development partner Enfinity. The financing supported the development and construction of a portfolio of Philippines solar projects, including Digos, Clark and Concepción.
EverStream is providing development and construction financing to a top tier Japanese developer to build out a portfolio of seven solar projects, including the SK project expected to be completed in 2017.
EverStream made an equity investment into a 156MW solar project. Construction is underway and the project is on track for a Q3 2016 COD. The project has a 25-year power purchase agreement with Xcel Energy. As of construction start in 2015, Comanche was on track to be the largest solar project in the United States east of the Rockies.
Everstream established DG Solar Partners I in 2016. Through this vehicle, EverStream and its affiliates own fourteen solar installations in Colorado, New Jersey, Florida, and Puerto Rico. The Projects are located on premises at Fortune 500 retailers as well as creditworthy municipal organizations.
EverStream invested development and construction equity into a portfolio of six, utility-scale projects in India totaling 100MWp. The projects were commissioned in Q3 and Q4 of 2017 and are currently operational.