Origis Energy and Global Atlantic Financial Group have entered into a series of agreements whereby Global Atlantic will take a minority equity position in Origis USA, LLC, the Miami, FL based holding company for Origis Energy, a top ranked U.S. utility scale solar developer. The transaction, which will strengthen the mutual activities of the companies in the renewable energy space, will also involve Global Atlantic's acquisition of a series of projects developed by Origis.
Prior to this agreement, Global Atlantic has invested in over 150 megawatts (MW) of utility scale solar projects developed by Origis Energy.
"Global Atlantic and Origis Energy have a proven track record to competitively finance large scale solar plants," said Guy Vanderhaegen, CEO and President of Origis Energy. "Our team welcomes this investment from Global Atlantic, a well-capitalized and adept investor in renewable energy. The agreement strengthens an already strong partnership and accelerates our position as a leading developer and long-term investor in U.S. solar and energy storage."
Gilles Dellaert, Co-President and Chief Investment Officer, Global Atlantic said, "Investing in renewable energy is a long-term strategic focus for our company. Origis has been a great partner and we look forward to expanding our relationship."
The agreement further strengthens Origis and Global Atlantic's co-investment in development of new solar and energy storage investments and provides for partnership in acquisition and management of third party developed and operational assets.
Citi served as sole financial advisor to Origis Energy.
About Origis Energy
Origis Energy is Powering the Solar RevolutionSM with custom clean energy solutions for utility, commercial and public sector clients. The Origis team has worked to ensure the interests of all stakeholders are upheld in more than 100 projects worldwide totaling over 1 gigawatt to date of developed solar capacity. Headquartered in Miami, FL, Origis Energy delivers excellence in solar and energy storage development, financing, engineering, procurement and construction (EPC) and operations, maintenance and asset management for investors and clean energy consumers across Europe and the Americas. More information at www.OrigisEnergy.com
About Global Atlantic Financial Group Limited
Global Atlantic Financial Group Limited, through its subsidiaries, offers a broad range of retirement, life and reinsurance products designed to help our customers address financial challenges with confidence. A variety of options help Americans customize a strategy to fulfill their protection, accumulation, income, wealth transfer and end-of-life needs. In addition, Global Atlantic offers custom solutions and responsive service for the capital, risk and legacy-business management of life and annuity insurance companies.
Global Atlantic was founded at Goldman Sachs in 2004 and separated as an independent company in 2013. Its success is driven by a unique heritage that combines deep product and distribution knowledge with insightful investment and risk management capabilities, alongside a strong financial foundation of over $70 billion in assets as of June 30, 2018.
Contacts
Origis Energy
Glenna Wiseman and Valerie Cops, 1-786-693-2624
glenna.wiseman@origisenergy.com
valerie.cops@origisenergy.com
or
Global Atlantic
Stephanie Lowenthal, 1-917-438-9868
stephanie.lowenthal@gafg.com
