Private equity firm EnCap Investments has grown its power, grid infrastructure and energy storage-focused venture capital team with a new hire from across the Atlantic.
Edward Parnell joined the recently formed Houston-based energy transitions group (PFR, 9/23) this month as vice president, after six years with mid-market private equity and infrastructure investor 3i Group in London.
Parnell had been with 3i since 2013 and rose to the rank of associate director, infrastructure. He had previously spent six years with Ernst & Young.
EnCap’s power team is looking at investing in renewables coupled with battery storage as well as brownfield gas-fired projects with energy storage retrofits. Its investments in this area so far include storage-based independent power producer Broad Reach Power, commercial and industrial-scale renewables developer Catalyze, short-term battery system lessor Prisma Energy Solutions and Jacob Worenklein's independent power producer start-up US Grid Co. (PFR, 11/14).