RENEW and Ares Infrastructure and Power to Provide Energy Efficiency Infrastructure Projects to Customers

RENEW Energy Partners announced that, together with private investment funds managed by Ares Infrastructure and Power ("AIP"), a strategy of Ares Management Corporation ("Ares"), they will acquire a portfolio of contracted energy efficiency and distributed power generation infrastructure projects serving the commercial, industrial, and institutional end markets. 

The investment will support RENEW's "energy-efficiency-as-a-service" business, which provides building owners and businesses with a turnkey solution for the design, construction, funding, and oversight of energy-efficiency retrofits. The retrofits include lighting, steam, building automation, and distributed power generation systems and provide immediate cost savings, as well as environmental and resiliency benefits, to the customer. Energy efficiency upgrades typically represent low-cost and readily deployable solutions to curb electricity usage and emissions from buildings and industrial processes. The industry is benefiting from tailwinds from businesses motivated by energy cost savings, increased resiliency, GHG footprint reduction, as well as regulatory requirements. 

"Energy efficiency is a high priority asset class to Ares and it is a key component of the energy transition. These projects will simultaneously help companies save on costs, increase resiliency, and meet their sustainability targets, a win-win value proposition that we are excited to support," said Keith Derman, Partner and Co-Head of Ares Infrastructure and Power. 

The portfolio adds to the more than 60 investments in the climate infrastructure market made by funds managed by AIP, which together represent over $2.5 billion of invested capital.

"RENEW has been singularly focused on reducing climate emissions from Commercial, Industrial and Institutional buildings through innovative funding solutions since our inception in 2013. Ares' support will enable us to continue that mission and expand our reach and capabilities," said Charlie Lord, Principal of RENEW.

Ares Management Corporation | www.aresmgmt.com

Renew Energy Partners | www.renewep.com