Month: July 2021

July 15, 2021 08:30 AM Eastern Daylight Time

DALLAS–(BUSINESS WIRE)–NGP today announced that David Colt and Maritza Liaw are joining the firm as Partners, focusing exclusively on energy transition investing through NGP ETP, NGP’s energy transition platform.

Mr. Colt was previously a Principal with CPP Investments, where he was responsible for developing and executing a late-stage venture and growth equity investment strategy in energy transition. Prior to joining CPP Investments, Mr. Colt was the Vice President of Corporate Development and Finance for ChargePoint, a global leader in electric vehicle charging. Mr. Colt is a graduate of Reed College with a degree in Economics.

Ms. Liaw was previously a Partner with the Kleiner Perkins Green Growth Fund, where she invested in businesses in the energy and logistics sectors. Prior to joining Kleiner Perkins, Ms. Liaw developed utility-scale wind energy projects in Montana and Alberta. Ms. Liaw began her career with the Boston Consulting Group. She is a graduate of Stanford University and earned an M.B.A. from Harvard Business School where she was a Baker Scholar.

Chris Carter, Managing Partner of NGP, commented, “We are thrilled to welcome David and Maritza to the NGP team. As the global community focuses on solutions to combat climate change, there is an enormous opportunity to invest in and build businesses that will have a meaningful impact, while generating attractive returns for investors. David and Maritza are industry veterans who have spent their careers evaluating, advising, and making investments in the energy transition. We believe they will both make powerful contributions to NGP ETP for many years to come.”

Philip Deutch, NGP ETP Fund Head and Partner, commented, “At the center of our success investing in the energy transition is our investment team that has a differentiated, proactive and disciplined investment approach. We continue to have success working with our portfolio companies to create significant value for our investors. We know David and Maritza well, and they will strengthen and expand NGP ETP, bringing their own impressive experiences and perspectives to those of our existing team.”

ABOUT NGP and NGP ETP
Founded in 1988, NGP is a premier private equity firm with over $20 billion of cumulative equity commitments organized to make strategic investments in the energy sector. NGP’s 33-year history gives it unique insight into the drivers of value creation in all facets of the energy industry. NGP ETP, NGP’s energy transition platform, provides growth equity to compelling companies focused on today’s energy transition. NGP ETP targets growth equity investments in companies that drive or enable the growth of renewable energy, the electrification of our economy or the efficient use of energy and resources. For more information visit www.ngpenergycapital.com.

For information: www.ngpenergycapital.com

Close over $100 million in commitments from NGP Energy Technology Partners III and management

SAN FRANCISCO, July 14, 2021 /PRNewswire/ — Solar energy industry veterans David Riester and Joseph Song have launched Segue Sustainable Infrastructure to provide development capital to renewable energy and energy storage projects. Riester previously led project finance for Cypress Creek Renewables and co-founded GSSG Solar and Lacuna Sustainable Investments. Song led the engineering team at SunEdison and later held an executive leadership role at Sol Systems where he oversaw engineering, development, and operations. Combined across their careers, they have developed, designed, or financed over 8 GWs of projects currently operating across 35 states. Riester and Song are actively building out the team and expect to announce multiple senior additions in the coming weeks.

“Significant value is created during the development phase of a project. Yet the market for capital willing to support this value-rich phase of the lifecycle is thin, erratic, and opaque” said Riester. “Too many developers with great ideas are forced to sub-optimally capitalize their projects, sell out too early, or abandon their projects altogether. We are going to offer a better path.”

“We bring both finance and technical expertise, plus years of pattern recognition, to project development,” said Song.  “We’ve been doing this for years, so we know development is messy: essentially a couple years of troubleshooting and course-correcting followed by monetizing the cleaned-up asset as best you can. We like to navigate these choppy waters together with the development partners we back.”

Segue will let project/partner opportunities drive market selection, believing that developer and project quality are more important than the markets in which they operate. The firm will focus primarily on utility-scale and community solar sectors, though Riester and Song’s SunEdison roots will keep large-scale C&I in the picture.

With over $100 million of initial capital commitments from NGP Energy Technology Partners III (“NGP ETP III”) and the Segue management team, Segue is positioned to start making investments immediately.

NGP ETP III, an affiliate of NGP Energy Capital Management (“NGP”), invests in opportunities associated with the transition to a lower-carbon future. Growing renewable energy generation is a critical part of this transition. “We are excited to partner with the Segue team to capitalize this hard-to-reach market segment,” said Sam Stoutner, NGP Partner. “Their unique strategy and approach offer a way to inject capital into projects right where and when it’s needed, which we believe will simultaneously generate good returns and catalyze the clean energy transition.”

About Segue Sustainable Infrastructure
Segue Sustainable Infrastructure invests in development-stage renewable energy projects and the infrastructure enabling them. Our team capitalizes, de-risks, optimizes, and monetizes projects to allow developers to capture more value. For more information, please visit www.segueinfra.com.

About NGP Energy Technology Partners III
NGP ETP III invests in innovative technology companies with products, services or technologies serving the renewable energy, power, energy storage, energy efficiency, environmental, and transportation sectors. NGP ETP III is affiliated with NGP Energy Capital Management. Founded in 1988, NGP is a premier investment franchise in the energy industry, with over $20 billion in cumulative equity commitments organized to make strategic investments in the energy and natural resources sectors. NGP’s 32-year history gives it unique insight into the drivers of value creation in all facets of the energy industry. For more information, please visit www.ngpenergycapital.com.

July 08, 2021 02:48 PM Eastern Daylight Time

HOUSTON–(BUSINESS WIRE)–Mesa Royalties II, LLC (“Mesa II”) is pleased to announce it has closed on the acquisition of a mineral and royalty portfolio containing ~15,000 net royalty acres in the core of the Haynesville shale play from an undisclosed seller. The acquired asset contains 472 existing PDP wells, and the projected asset cash flow for the next twelve months is ~$30 million.

Mesa II is a mineral and royalty acquisition company led by Darin Zanovich (President & CEO), Greg Balash (COO & EVP Engineering), Michelle Massaro (EVP Finance) and Josh Wiener (EVP Land). In May, Mesa II announced aggregate equity commitments of $150 million from NGP through NGP Natural Resources XII, L.P. and NGP Royalty Partners, L.P.

Darin Zanovich, President & CEO of Mesa II, commented, “We are excited to acquire this premier Haynesville shale mineral and royalty portfolio. The asset has robust existing cash flow that allows us to begin an immediate distribution plan for our investors. The assets are situated in the core of the Haynesville in north Louisiana, and there are currently 9 rigs drilling on the acreage today. Additionally, ~50% of the active drilling permits in the basin are currently located on this acreage footprint, which will allow the position to continue to have a significant cash flow profile for years to come.”

For more information about Mesa II, please visit www.mesamineralsllc.com

About NGP
Founded in 1988, NGP is a premier private equity firm with over $20 billion of cumulative equity commitments organized to make strategic investments in the energy and natural resources sectors.

For more information about NGP, please visit www.ngpenergycapital.com