Goldman Sachs, Cleanhill take stake in United States inverter manufacturer

Sep 16, 2022 11:30 AM ET
  • Investment in EPC Power Corp positions company to 'expand and also deliver against rapid growth' in power storage
Goldman Sachs, Cleanhill take stake in United States inverter manufacturer
Image: EPC Power Corp

Goldman Sachs as well as Cleanhill Partners have gotten a bulk stake in EPC Power Corp, a North American distributor of utility-scale clever inverters to the energy storage sector.

The calculated investment, in addition to a detailed recapitalisation, settings EPC Power to "increase and provide against rapid development in the renewable resource storage space markets while aiding facilitate the United States economic situation's clean energy change".

The transaction very closely adheres to the signing into regulation of the Rising cost of living Reduction Act of 2022, which to name a few provisions prolongs a first-ever tax credit score to stand-alone energy storage space.

This produces a "considerable financial incentive" for taking on EPC Power's inverters and also various other technologies, the producer of power regulates equipment specified.

EPC Power stated it is the only US-based, end-to-end power conversion service provider, making its technology fit for grid-scale applications that require added layers of protection.

" EPC Power is very proud of the solid track record and also track record we've built by concentrating on item technology and also building deep relationships with our clients," claimed Devin Dilley, co-founder as well as ceo of EPC Power Corp.

" As the world ends up being more reliant on renewable energy, inverters require to continue to get smarter.

" Goldman Sachs and Cleanhill Partners sustain this vision and also are committed to investing in EPC Power as well as our people to capitalise on this interesting market opportunity as well as to favorably influence the United States power shift."

Rakesh Wilson as well as Ash Upadhyaya, taking care of partners at Cleanhill Partners, added: "In an exploding market of cleantech innovators, EPC Power stands out for its industry-leading modern technology, which straight sustains the renewable energy shift while maintaining grid integrity and performance."

Cleanhill Partners initially bought EPC Power in 2021 when it underwrote a credit score center to support its development.

" As previous investors in EPC Power, we have every confidence that the business will meet its ambitious and environmentally essential goals and also we are thrilled to companion with Goldman Sachs for the following phase of EPC Power's development," they included.

Alexander Mass, handling supervisor of Goldman Sachs Asset Administration, claimed: "As the only scaled vendor of clever inverters that are made, crafted as well as 100% manufactured in the United States, EPC Power is an all-natural extension of our thematic financial investment activity in this space, in partnership with Cleanhill Partners as well as EPC management."

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