NGP has announced the closing of NGP Sustainable Real Assets, LLC (“NGP SRA”), with approximately $500 million in capital commitments from NGP Energy Transition IV, L.P., and co-investors. NGP SRA aims to invest in real asset development platforms within the energy transition sector, including clean power, clean fuels, carbon, transportation, and critical minerals. The firm partners with exceptional management teams, often at the earliest stages, providing capital and support to build leading energy transition platforms.
Chris Carter, NGP’s Managing Partner, stated, “Our strategy with NGP SRA combines NGP’s 35-year track record of partnership-oriented investing, having backed more than 300 development platforms across the energy sector, with our significant capital, expertise, and resources dedicated to the energy transition. We see a big opportunity to deploy an investment model NGP has honed over the last three decades into these attractive clean energy subsectors.”
Phil Deutch, NGP Partner and Energy Transition Fund Head, added, “We take great pride in our reputation as value-added partners and trusted sector specialists in energy. NGP pioneered the investment model that now dominates traditional energy project development more than three decades ago. We are excited to commit our experience and capital to advancing energy transition projects while seeking attractive risk-adjusted returns for our investors.”
Sam Stoutner, NGP Partner, commented, “We continue to see a mismatch between the supply of high-quality, shovel-ready clean energy projects and the capital to build, finance, and own those projects. With NGP SRA, we will focus on backing teams and projects earlier in their lifecycle and working with management to build scaled, diversified, derisked projects and platforms that can ultimately be handed off to lower-cost, longer-term pools of capital.”
