OwnEnergy and EDF RE's complementary views towards culture and business philosophy proved to be an excellent fit for all parties involved.
CHICAGO, Aug. 26, 2015 -- Marathon Capital is pleased to announce the successful sale of OwnEnergy, a leader in locally-owned renewable energy systems, to EDF Renewable Energy ("EDF RE"). The acquisition of OwnEnergy's team, development platform, and pipeline of wind projects will add to EDF RE's already extensive North American portfolio containing 3.2 gigawatts (GW) of wind, solar, biomass, and biogas projects.
Marathon Capital led a comprehensive market search to find a well-suited group for the OwnEnergy team and its community-centric approach to development. OwnEnergy and EDF RE's complementary views towards culture and business philosophy proved to be an excellent fit for all parties involved.
"This is a huge milestone for OwnEnergy, our team, our local partners, our investors, and the many suppliers, advisors and friends of the Company, who have supported us through a challenging eight years," said Jacob Susman, OwnEnergy's CEO. "We are proud to have proven that the mid-market for wind can be viable with a systematic approach to development and that bringing local partners onto the development team and into the projects is a key aspect to success. We are very excited about our new home at EDF Renewable Energy and are thankful for Marathon's role in facilitating this transaction."
About Marathon Capital
Marathon Capital is a leading financial advisory and investment banking firm focused on providing financial advice in the areas of M&A, structuring and raising debt, equity, tax equity capital, financial restructuring, and workout situations in the global energy and infrastructure markets. Marathon Capital is a two-time recipient of the "Best Renewable Asset M&A Advisor" award in Power Finance & Risk's Annual Power Finance Deals and Firms Awards (2013 & 2014). For more information, visit www.marathon-cap.com
About OwnEnergy - an EDF Renewable Energy Company
OwnEnergy is the national leader in mid-sized wind energy development that enables landowners and communities to build and profit directly from their own local wind farms. Since OwnEnergy was founded in 2007, it has grown a pipeline of 29 community-supported energy wind farm partnerships across 18 U.S. states. The Company works in partnership with its nationwide network of energy entrepreneurs to develop the approximately 2,000MW of wind farms in its pipeline. The power of the company's business model is reflected in the eight projects it has already successfully developed. OwnEnergy is based in Brooklyn, New York. For more information about OwnEnergy visit www.ownenergy.net.