Texas-based private equity firm EnCap Investments has hired former executives of First Solar, Pattern Development and Quinbrook Infrastructure Partners as it builds out a power-focused investment platform.
The newly-formed energy transitions team has collectively developed, owned and operated more than 24 GW of capacity over the course of their careers.
EnCap is looking to invest in North American independent power producers at the company level, with a focus on greenfield wind and solar assets that can be enhanced with battery storage, as well as brownfield gas-fired projects with potential for storage retrofits.
The First Solar alumni are Jim Hughes and Tim Rebhorn, who join EnCap as managing partners, as well as Kim Driscoll, the new formation's general counsel. Hughes, Rebhorn and Driscol had most recently been with Prisma Energy—which is now an EnCap portfolio company.
Shawn Cumberland, another managing partner of the new outfit, is a Prisma executive who had previously been with Quinbrook (PFR, 6/28).
The ex-Pattern appointment, meanwhile, is Kellie Metcalf, who had been with the wind-focused developer since 2010. She also joins EnCap as managing partner.
The team will oversee a portfolio of EnCap-backed companies including:
- Houston-based utility-scale storage owner/operator Broad Reach Power,
- Boulder, Colo.-headquartered commercial real estate-focused renewable power producer Catalyze, and
- US Grid Co., a natural gas-fired plant owner/operator out of New York.