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547 Energy International LLC, the global clean energy investment platform of Quantum Energy Partners, committed $250 million of equity funding to Aer Soléir, an onshore wind, solar and energy storage company actively sourcing development-stage projects across the EU.
“The demand for renewable energy projects to accomplish Europe’s energy transition is staggering” Sean O’Donnell, partner and head of energy transition at Quantum, commented in an April 4 release.
Headquartered in Dublin, Ireland, Aer Soléir is comprised of 20 employees and led by its two founding partners, CEO Andy Kinsella and CFO Manus O’Donnell. The company’s strategy is to support Europe’s ambition to become the world’s first climate-neutral continent by 2050 by developing, constructing, owning and operating renewable energy projects throughout Europe.
“We are pleased to back Andy, Manus and the Aer Soléir team as they work to identify, invest in and guide major renewable energy assets to operation,” O’Donnell said.
Kinsella brings over 35 years of experience in the international energy sector to the business. He has held leadership positions at companies including Ireland’s Electricity Supply Board (ESB), ESB International, GE, Siemens and most recently Mainstream Renewable Power where he served as CEO.
O’Donnell was most recently chief investment officer of NTR plc, a Dublin-based investor in, and asset manager of, renewable energy projects with a focus on wind, solar and storage projects in Europe and the U.S. He previously held senior financial leadership positions in Mainstream Renewable Power and Airtricity.
Kinsella commented: “We have built a world-class team that is fostering early-stage development and guiding projects successfully through licensing, financing, engineering, construction and operation. As we grow, we are guided by our mission to develop and build best-in-class, large-scale renewable energy transition projects that will provide material, long-lasting economic benefits to communities across Europe.”
O’Donnell added: “The timing could not be better to launch Aer Soléir, a European-focused renewable energy platform. We are pleased to have the expertise and the capital that 547 Energy provides, and we look forward to growing our partnerships with emerging developers across Europe.”
547 Energy was founded and is led by industry veteran Gabriel Alonso, who joined Quantum in 2018 to identify, evaluate and execute on multiple investment opportunities across the renewable and technology segments of the energy industry.
To date, 547 Energy has invested in ConnectGen, BlueFloat Energy, Aer Soléir, certain affiliates of ENORA SA and NetOn.
“Andy and Manus have assembled a deeply experienced and talented team that will support Europe’s near-term renewable energy targets and ambition to transition to a clean energy economy,” Alonso commented in the release.
“We are confident in Andy, Manus and the team’s ability to grow Aer Soléir into a leading European pure-play renewable energy developer, as the team works to develop the projects needed to transition to a clean energy economy,” he added.
547 Energy International and Quantum Energy Partners are both headquartered in Houston.
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