Company type | Private |
---|---|
Industry | Investment banking Financial services |
Founded | 1999 |
Founders |
|
Headquarters | Chicago |
Services | Investment Banking |
Marathon Capital is an independent investment bank delivering financial advice to the global energy and infrastructure markets. Marathon Capital specializes in the sale and financing of companies, portfolios and assets within these markets.
Marathon Capital, founded in 1999, is privately held. Investment banking is conducted through wholly owned subsidiary Marathon Capital Markets, LLC and regulated by the Financial Industry Regulatory Authority (FINRA) [1] in the United States and by the Ontario Securities Commission (OSC) [2] in Canada where the firm operates as an Exempt Market Dealer. [3]
Marathon Capital employs over 100 investment bankers in the areas of renewable energy, mergers, acquisitions, restructuring, project finance and capital raisings.
The firm has offices in Chicago, New York City, San Francisco, Houston, and London.
In 1999, Ted Brandt and Gregg Elesh co-founded Marathon Capital. [4] Brandt serves as the CEO. [5] Both have backgrounds in commercial finance, leasing, and structured finance. During 2001, Marathon Capital began its focus on alternative energy. The firm competes with “bulge bracket” firms for its engagements. [6] Marathon Capital periodically acts as a co-manager with other investment banks to facilitate client transactions. Marathon Capital has been involved in several high-profile wind power mandates from American Wind Capital Corporation (USA), Suzlon Wind Energy Corporation (USA), EchoFirst (USA), SkyPower Corp. (Canada), Allco Finance Group (Australia) and Greenlight Energy (USA). [7]
Marathon Capital employs over 100 investment bankers [8] in the areas of capital raising, commercial finance, engineering, mergers and acquisitions, power plant development, project finance, renewable energy and restructuring [9] for the wind, solar, energy storage, renewable fuels, sustainable technology, e-mobility, hydrogen and distributed generation sectors. [10]
The firm has offices in Chicago, London, [11] New York City, Houston, and San Francisco and a representative office in Canada. [12]
Marathon Capital's clients include developers, independent power producers, utilities, government entities, oil and gas companies and energy service providers focused on buying, selling, capitalizing, leveraging and/or restructuring a specific situation, company, project or asset. Marathon Capital has completed transactions involving district energy, cogeneration, geothermal power, wind power, solar power, landfill gas, demand-side energy conservation and has interest in additional transactions focusing on alternative fuel and chemicals, biomass power, energy management system, fuel cell, hydro, and energy-efficiency. [13]
Marathon Capital has handled the transactions for the following clients: American Wind Capital Company's sale of company and portfolio to Hannon Armstrong; [14] Suzlon's sale of 240MW Big Sky Wind Farm to EverPower, [15] the restructuring and sale of Middlesex Generation to General Electric (landfill gas to electric); Steamboat II/III to Ormat Technologies (Geothermal); the sale of Greenlight Energy to BP plc (Wind), [16] AMP Resources to Enel (Geothermal), [17] [18] [19] [20] Heelstone Energy Holdings LLC to Sammons Renewable Energy, [21] OCI Solar Power’s 66MW Project Ivory to Desri, [22] Empower Energies’ DG Solar Fund, [23] CPV Wind to Iberdrola (Wind), [24] SkyPower Corp. to Lehman Brothers (Wind and Solar) [25] [26] and Ridgeline Energy to Veolia Environment (Wind). [27] The sale of the project by Allco Finance Group generated cash proceeds of A$346 million. [28]
Other transactions Marathon Capital has played a key role in include: the sale of Tehachapi 3.1 GW wind project, [29] the creation of the leading IPP with Pattern Energy and Riverstone Holdings, [30] the formation of a private Yield co for Edison International with AMP Capital and TIAA-CREF, [31] the sale of First Wind to SunEdison [32] and Terraform, [33] and the sale of Alterra and development pipeline to Innergex. [34]
Marathon Capital has been named ‘Best Renewable Asset M&A Adviser’ four times [35] and ‘M&A Advisor of the Year’ twice [36] in Power Finance & Risk’s Annual Power Finance Deals and Firms Awards.
The Public Power Corporation S.A. is the largest electric power company in Greece. PPC acquired Enel Romania from the Italian Enel group for €1.24 billion on October 25, 2023.
Enel S.p.A. is an Italian multinational manufacturer and distributor of electricity and gas. Enel, which originally stood for Ente nazionale per l'energia elettrica, was first established as a public body at the end of 1962, and then transformed into a limited company in 1992. In 1999, following the liberalisation of the electricity market in Italy, Enel was privatised. The Italian state, through the Ministry of Economy and Finance, is the main shareholder, with 23.6% of the share capital as of 1 April 2016.
Suzlon Energy Limited is an Indian multinational wind turbine manufacturer headquartered in Pune, India.
A Renewable Portfolio Standard (RPS) is a regulation that requires the increased production of energy from renewable energy sources, such as wind, solar, biomass, and geothermal, which have been adopted in 38 of 50 U.S. states and the District of Columbia. The United States federal RPS is called the Renewable Electricity Standard (RES). Several states have clean energy standards, which also allow for resources that do not produce emissions, such as large hydropower and nuclear power.
Renewable energy commercialization involves the deployment of three generations of renewable energy technologies dating back more than 100 years. First-generation technologies, which are already mature and economically competitive, include biomass, hydroelectricity, geothermal power and heat. Second-generation technologies are market-ready and are being deployed at the present time; they include solar heating, photovoltaics, wind power, solar thermal power stations, and modern forms of bioenergy. Third-generation technologies require continued R&D efforts in order to make large contributions on a global scale and include advanced biomass gasification, hot-dry-rock geothermal power, and ocean energy. In 2019, nearly 75% of new installed electricity generation capacity used renewable energy and the International Energy Agency (IEA) has predicted that by 2025, renewable capacity will meet 35% of global power generation.
A power purchase agreement (PPA), or electricity power agreement, is a long-term contract between an electricity generator and a customer, usually a utility, government or company. PPAs may last anywhere between 5 and 20 years, during which time the power purchaser buys energy at a pre-negotiated price. Such agreements play a key role in the financing of independently owned electricity generators, especially producers of renewable energy like solar farms or wind farms.
The renewable-energy industry is the part of the energy industry focusing on new and appropriate renewable energy technologies. Investors worldwide have paid greater attention to this emerging industry in recent years. In many cases, this has translated into rapid renewable energy commercialization and considerable industry expansion. The wind power, solar power and hydroelectric power industries provide good examples of this.
Enel Green Power S.p.A. is an Italian multinational renewable energy corporation, headquartered in Rome. The company was formed as a subsidiary of the power generation firm Enel in December 2008. It has operations in five continents generating energy from solar, geothermal, wind and hydropower sources. As of 2022, it manages a capacity of 60,9 GW and has over 1200 plants worldwide.
Italy's total electricity consumption was 302.75 terawatt-hour (TWh) in 2020, of which 270.55 TWh (89.3%) was produced domestically and the remaining 10.7% was imported.
Solar power in Connecticut establishes Connecticut as the second state in the US to reach grid parity, after Hawaii, due to the high average cost of electricity. Installing solar panels for a home provides an estimated 15.6% return on investment.
Most of Kenya's electricity is generated by renewable energy sources. Access to reliable, affordable, and sustainable energy is one of the 17 main goals of the United Nations’ Sustainable Development Goals. Development of the energy sector is also critical to help Kenya achieve the goals in Kenya Vision 2030 to become a newly industrializing, middle-income country. With an installed power capacity of 2,819 MW, Kenya currently generates 826 MW hydroelectric power, 828 geothermal power, 749 MW thermal power, 331 MW wind power, and the rest from solar and biomass sources. Kenya is the largest geothermal energy producer in Africa and also has the largest wind farm on the continent. In March 2011, Kenya opened Africa's first carbon exchange to promote investments in renewable energy projects. Kenya has also been selected as a pilot country under the Scaling-Up Renewable Energy Programmes in Low Income Countries Programme to increase deployment of renewable energy solutions in low-income countries. Despite significant strides in renewable energy development, about a quarter of the Kenyan population still lacks access to electricity, necessitating policy changes to diversify the energy generation mix and promote public-private partnerships for financing renewable energy projects.
Ethiopia generates most of its electricity from renewable energy, mainly hydropower.
Renewable energy in Chile is classified as Conventional and Non Conventional Renewable Energy (NCRE), and includes biomass, hydro-power, geothermal, wind and solar among other energy sources. Usually, when referring to Renewable Energy in Chile, it will be the Non Conventional kind.
Renewable energy in South Africa is energy generated in South Africa from renewable resources, those that naturally replenish themselves—such as sunlight, wind, tides, waves, rain, biomass, and geothermal heat. Renewable energy focuses on four core areas: electricity generation, air and water heating/cooling, transportation, and rural energy services. The energy sector in South Africa is an important component of global energy regimes due to the country's innovation and advances in renewable energy. South Africa's greenhouse gas (GHG) emissions is ranked as moderate and its per capita emission rate is higher than the global average. Energy demand within the country is expected to rise steadily and double by 2025.
Adani Green Energy Limited (AGEL) is an Indian renewable energy company, headquartered in Ahmedabad, India. It is owned by Indian conglomerate Adani Group. The company operates Kamuthi Solar Power Project, one of the largest solar photovoltaic plants in the world.
Enel North America is an American company headquartered in Andover, MA, United States. One of the renewable energy operators in North America, it was formed as a subsidiary of the global utility Enel S.p.A. in 2000. It has operations in the United States and Canada through its renewables and energy services businesses, with a portfolio including over 9.6 GW of renewable capacity, 160,000 EV charging stations, 4.7 GW of demand response capacity and 14 utility-scale battery energy storage systems, totaling 1,416 MWh of capacity under construction or in operation. It serves a customer base of over 4,500 businesses, utilities, and cities in North America.
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: CS1 maint: archived copy as title (link); Power Finance & Risk