NEW YORK, Oct. 07, 2021 (GLOBE NEWSWIRE) -- Greenbacker Capital Management, LLC (“GCM” or “Greenbacker”), a leader in sustainable infrastructure investment, is pleased to announce that Mehul Mehta has been promoted to the position of Chief Investment Officer, effective October 2021.
Since joining Greenbacker in June 2016, Mehul has been essential in shaping the firm’s growth trajectory. He began his tenure as a Vice President focused on leading deal origination for Greenbacker Renewable Energy Company (“GREC”), a long-term owner and operator of renewable energy projects. At that time, GREC’s gross investment value1 (“GIV”) was just over $122 million, and the clean power–generating capacity of its fleet of renewable energy assets was roughly 50 megawatts. By June 2021, the company’s GIV exceeded $1.5 billion, and the power capacity of its fleet had climbed to 2.1 gigawatts, with assets in 34 states, districts, territories, and provinces.2 Beyond Mehul’s successful expansion of GREC, he has been instrumental in helping to roll out additional investment vehicles for GCM. He has also contributed to the growth of the organization more broadly, in his role on Greenbacker’s Executive Committee.
“Since joining the firm five years ago, Mehul’s service and contributions to Greenbacker have been key ingredients in our success,” said Charles Wheeler, President of GCM and CEO of GREC. “His proven track record of insightful investment decisions has propelled GREC through a period of substantial growth, helping us attain new heights and reach significant milestones. With Mehul’s steady leadership, sound judgement, and broad market expertise, the future of Greenbacker is a very bright one.” Mehul is assuming the role of CIO from Charles, who remains intimately involved with the company’s investment decisions and overall business strategy as President of GCM and CEO of GREC.
“I’m humbled that the company leadership has placed their trust in me, and I’m excited at the opportunities Greenbacker’s future holds,” said Mehul. “When I first joined GCM, I was struck by the founders’ vision: to lead the clean energy transition by bringing Main Street investors into an industry dominated by Wall Street capital. Looking back on all we’ve accomplished and how much progress we’ve made, I’m proud to continue moving that mission forward.”
Mehul joined the company from a position on the Global Renewable Power team at BlackRock, where he structured and executed investments in the North American renewables space. Prior experience in sustainable infrastructure investment also includes UBS, Recurrent Energy, and Bank of America Merrill Lynch, where he began his career as an electricity and natural gas options trader. Mehul graduated from NYU with a BA in Mathematics and Economics and received his MBA from the Yale School of Management.
1 Gross investment value (GIV) reflects the fair market value of our investments and cash as reported on GREC's latest quarterly financial statements, as well as project-level debt related to our projects. GIV amounts are unaudited and subject to change.
2 GREC portfolio metrics set forth herein are unaudited estimates and subject to change.
About Greenbacker Capital Management
Greenbacker Capital Management LLC is an SEC registered investment adviser that provides advisory and oversight services related to project development, acquisition, and operations in the renewable energy, energy efficiency, and sustainability industries. For more information, please visit www.greenbackercapital.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Although Greenbacker believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. Greenbacker undertakes no obligation to update any forward-looking statement contained herein to conform to actual results or changes in its expectations.
Media Contacts:
Greenbacker:
Chris Larson
Senior Writer & Media Communications
847.313.9035
c.larson@greenbackercapital.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4a14743c-73e4-4d38-8901-d1592f978ba4
