GDEV 2022 Impact Report
GDEV makes growth capital investments in developers and operators of renewable energy and sustainable infrastructure projects. The fund’s investment team leverages its deep experience in project development, structured finance, and operations to identify best-in-class management teams and help them navigate periods of significant growth and change. GDEV also leverages the broader Greenenergyglobe platform, bringing to bear the firm’s robust technical, operational, and capital markets capabilities for the benefit of its investors and portfolio companies.
GDEV invests across a wide range of sustainable infrastructure and renewable energy technologies, including (but not limited to) solar photovoltaic power generation, hydroelectric power generation, battery storage, energy efficiency, microgrids and waste-to-value. The fund makes corporate investments across the capital structure with a primary focus on equity investments.
TEAM
BEN BAKER
MANAGING DIRECTOR, GDEV
TRIXIE BLAIR
PRINCIPAL, GDEV
JEROME BRIENS
AVP, GDEV
DANIEL DRUCKER
FUND CONTROLLER, GDEV
JOSEPH NANO
VP, GDEV
QUINN PASLOSKE
PRINCIPAL, GDEV
BRUCE USHER
GDEV INVESTMENT COMMITTEE MEMBER
CINDY WEI
AVP, GDEV
ALEXANDER WORTHY
AVP, GDEV
Portfolio
FUND GDEV I
SECTOR Solar, battery storage
STATUS Unrealized
DATE 4Q2020
Strategic investment in Chaberton Energy, a developer of solar photovoltaic projects in the Mid-Atlantic region
FUND GDEV I
SECTOR Solar, battery storage
STATUS Unrealized
DATE 3Q2021
Strategic Investment in CEP Solar, a developer of distributed and utility-scale solar and storage projects in Virginia
FUND GDEV I
SECTOR Storage
STATUS Unrealized
DATE 4Q2021
Strategic investment in Delorean Power, a developer of battery storage assets in the Northeast and Mid-Atlantic regions
FUND GDEV I
SECTOR Hydroelectric
STATUS Realized
DATE 4Q2020
Strategic investment in Dichotomy Power, an owner-operator of small hydroelectric generating facilities in the Northeast
FUND GDEV I
SECTOR Hydroelectric
STATUS Unrealized
DATE 4Q2020, 1Q2023
Strategic investment in Elevate Power, an owner-operator of small hydroelectric generating facilities in the Northeast and other select markets; Elevate Power is the successor entity to Clear Energy Renewables which acquired Dichotomy Power in May 2023
FUND GDEV I
SECTOR Solar, battery storage
STATUS Realized
DATE 4Q2020
Strategic investment in Encore Renewable Energy, a developer of solar photovoltaic and battery storage projects in the Northeast
FUND GDEV I
SECTOR Solar, Floating Solar
STATUS Unrealized
DATE 1Q2022
Strategic investment in Noria Energy, a California-based developer of behind-the-meter floating and ground-mounted solar projects
FUND GDEV I
SECTOR Solar
STATUS Unrealized
DATE 4Q2020
Strategic investment in OYA Solar, a developer of community solar projects focused on New York
FUND GDEV I
SECTOR Energy efficiency, microgrids
STATUS Unrealized
DATE 3Q2022
Strategic investment in Renew Energy Partners, a distributed generation, microgrid, and energy efficiency company helping companies across the US
FUND GCM Affiliated Fund
SECTOR Electric Fleets
STATUS Unrealized
DATE 4Q2022
Strategic Investment in Revolv Global Inc. a company focused on transitioning conventional corporate small and medium sized fleets to electric
FUND GDEV I
SECTOR Storage, battery storage
STATUS Unrealized
DATE 2Q2022
Strategic investment in Sunrock Distributed Generation, a developer, owner and finance partner for commercial solar and storage projects across the US
FUND GCM Affiliated Fund
SECTOR Solar, Battery Storage
STATUS Unrealized
DATE 4Q2022
Strategic investment in Sunstone Credit Inc., a solar loan financing platform focused on small- and medium-sized businesses across the U.S.
FUND GDEV I
SECTOR Battery Storage, Virtual Power Plants
STATUS Unrealized
DATE 3Q2022
Strategic investment in Swell Energy, Inc., a developer and operator of battery-based virtual power plants focused on high-value markets across the U.S.
FUND GCM Affiliated Fund
SECTOR Battery Storage, Multi-Asset Optimization
STATUS Unrealized
DATE 2Q2023
Strategic investment in Peak Power, Inc., a battery storage developer and a multi-asset software platform focused on commercial & indusrial customers across the US and Canada
GDEV PORTFOLIO ACTIVITY
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