Greenleaf Power closes growth capital facility

Greenleaf Power has closed a $100 million growth capital facility. Greenleaf Power is a growth company focused on investing in and developing projects that gather biomass that would otherwise be burned openly or landfilled, and converting it to renewable energy.

PRESS RELEASE

Greenleaf Power LLC, the leading owner and operator of North American renewable energy biomass power plants, is pleased to announce the closing of a $100 million growth capital facility, the proceeds of which will be used to fund the continued rapid growth of the company through acquisitions. Babson Capital Management LLC is the agent for the financing institutions under the financing.

“We have structured significant flexibility to rapidly deploy this capital into value enhancing acquisition opportunities and look forward to deploying the funds in partnership with the experienced team at Babson Capital.”

“This agreement provides us with an additional $100 million of growth financing capacity at an attractive cost of capital,” said Hugh Smith, President of Greenleaf Power. “We have structured significant flexibility to rapidly deploy this capital into value enhancing acquisition opportunities and look forward to deploying the funds in partnership with the experienced team at Babson Capital.”

Greenleaf Power is a growth company, focused on investing in and developing projects that gather biomass that would otherwise be burned openly or landfilled, and converting it to base load renewable energy. Greenleaf Power’s experienced team of clean energy professionals has proven its capability to complete acquisitions and optimize the profitability, efficiency, and output of its plants by undertaking operational improvements, fuel procurement initiatives and revenue enhancements.

The Greenleaf team has acquired five biomass facilities, representing approximately 145MW, since its inception. It is a portfolio company of Denham Capital, a leading energy-focused global private equity firm.

EA Markets LLC and its affiliates, a corporate finance advisory and capital investment firm headquartered in New York, NY, acted as the exclusive financial advisor and placement agent to Greenleaf on the transaction.

About Greenleaf Power LLC

Greenleaf Power acquires, develops, owns and operates power projects that utilize residual biomass as fuel. Greenleaf Power currently owns and operates more than 145 megawatts of biomass generating assets in North America. With its corporate headquarters located in Sacramento, Calif. Greenleaf Power directly employs over 150 people and supports approximately 600 full-time positions dedicated to supplying the facilities’ fuel requirements. Greenleaf Power is backed by Denham Capital, a leading global energy-focused private equity firm.

About Denham Capital

Denham Capital is a leading energy and resources-focused global private equity firm with more than $7.9 billion of invested and committed capital across seven fund vehicles and offices in London, Boston, Houston, São Paulo and Perth. The firm makes direct investments in the energy and resources sectors, including businesses involving power generation, oil and gas, and mining, across the globe and all stages of the corporate lifecycle. Denham’s investment professionals apply deep operational and industry experience and work in partnership with management teams to achieve long-term investment objectives.

About Babson Capital Management

Babson Capital Management LLC (Babson Capital) is a leading global asset management firm with over $198 billion in assets under management as of March 31, 2014. Through proprietary research, analysis and a focus on investment fundamentals, the firm and its global affiliates develop products and strategies that leverage its broad expertise in global fixed income, structured products, middle market finance, commercial real estate, alternatives and equities. Babson Capital maintains a strong global footprint, with operations on four continents and clients in over 20 countries. Babson Capital is a member of the MassMutual Financial Group.

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