Napier Park, Ethical Power Form JV to Invest in Large-Scale Solar and Storage Projects

Napier Park Global Capital and Ethical Power Group announced the formation of a joint venture, Lynher Energy, that plans to invest in large-scale solar and battery storage assets in the UK and Europe.

Ethical Power will act as servicer to the joint venture, including the provision of services relating to development, construction, operations and maintenance, and asset management.

The partnership intends to invest in development assets to which Ethical Power can bring its extensive experience in the design, optimisation and construction of renewable energy projects to build high-quality, valuable assets.

Ethical Power Chief Executive and Founder Tom Kneen said, “I am very excited that Ethical Power will have the opportunity to work with a partner such as Napier Park, which has an extensive record in sponsoring industry-leading joint ventures in long-lived assets and working constructively with entrepreneurial management teams such as ours in achieving shared success."

Chris Sparrow, Principal at Napier Park, added, “We are thrilled to announce this new alliance with Ethical Power, who has deep experience in the development and construction of solar and battery assets and is an ideal partner in this program. This new venture represents a continuation of our strategy to partner with leading businesses in equipment asset classes where we see the opportunity to provide our investors with strong yields and attractive risk-adjusted returns.”

The venture will invest in assets that will form a critical part of global strategies to reduce carbon consumption and transition the world to green energy sources.

There is a significant investment gap in these green energy assets that must be addressed to meet these goals. Napier Park and its Real Assets investment program are focusing significant resources to the global green energy transition and to this partnership, at a pivotal moment for the UK and European renewable energy sectors. Napier Park plans to fund the investment in the venture from its Multi-Asset Fund.