Findlay Ohio-based One Energy Enterprises LLC, a provider of wind projects, has secured $80 million in funding. Prudential Capital Group was the investor.
FINDLAY, Ohio, Jan. 16, 2017 /PRNewswire/ — Prudential Capital Group, a leading source of private capital for public and private companies, and One Energy Enterprises LLC, announced today the closing of an $80 million financing combination of senior and subordinated debt. Prudential Capital Group is the private placement arm of PGIM, the global investment management businesses of Prudential Financial, Inc. (NYSE: PRU).
One Energy works with large commercial and industrial energy users to provide on-site “behind the meter” wind energy which is directly used by the customer’s facility. The company refers to these projects as Wind for Industry®. By combining development, engineering, procurement, construction, and operation under one organization, One Energy is able to deliver market competitive on-site wind energy solutions to its customers.
Prudential Capital Group has extensive experience investing in the energy industry and energy projects. The One Energy financing is Prudential’s first entry into financing within the multi-project commercial and industrial energy market.
“Jereme Kent and his team at One Energy have developed an innovative, vertically integrated and well thought out business plan,” said Ric Abel, Managing Director, Prudential Capital Group. “We’re pleased to be part of the project.”
“Prudential Capital’s ability to deliver one-stop financing made this deal possible,” said Jereme Kent, CEO and General Manager of One Energy. “Their in-house technical expertise and ability to tailor various financial products to specific needs makes Prudential an attractive financing partner, particularly for unique companies like One Energy.”
The financing will allow One Energy to continue growing its portfolio of Wind For Industry® projects throughout Ohio and the United States. All of One Energy’s Wind For Industry® projects use turbines supplied by Goldwind. Duane Morris LLP represented One Energy and Morgan, Lewis, & Bockius represented Prudential Capital Group for the deal.
About One Energy
Headquartered in Findlay, Ohio, One Energy is a trusted expert in on-site wind energy generation, and is responsible for the largest commercial net-metered wind projects in the United States. One Energy provides Wind for Industry® solutions for large electricity consumers. The One Energy family of companies delivers project assessment, development, engineering, procurement, construction, finance, and operations. Learn more at www.oneenergywind.com.
About Prudential Capital Group
Prudential Capital Group has been a leading provider of private debt, mezzanine and equity securities to companies worldwide for more than 75 years. Managing a portfolio of more than $75 billion as of September 30, 2016, Prudential Capital offers private capital to companies, worldwide. The global regional office network has locations in Atlanta, Chicago, Dallas, Frankfurt, London, Los Angeles, Milan, Minneapolis, Newark, N.J., New York, Paris and San Francisco. For more information, please visit www.prudentialcapitalgroup.com.
About PGIM and Prudential Financial, Inc.
With 13 consecutive years of positive third-party institutional net flows, PGIM, the global asset management businesses of Prudential Financial, Inc. (NYSE: PRU), ranks among the top 10 largest asset managers in the world with more than $1 trillion in assets under management as of Sept. 30, 2016. PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including fundamental equity, quantitative equity, public fixed income, private fixed income, real estate and commercial mortgages. Its businesses have offices in 16 countries across five continents.
Prudential Financial’s other businesses also offer a variety of products and services, including life insurance, annuities and retirement-related services. For more information about PGIM, please visit https://www.pgim.com. For more information about Prudential, please visit www.news.prudential.com.