greenville, south carolina
January 30, 2023
/PRNewswire/ — Pacolet Milliken, LLC (”
“), a family-owned investment firm focused on sustainability, announces the completion of its investment in a joint venture with Evensol LLC (“Evensol”), a leading developer of renewable biogas assets Did.
January 18, 2023
In partnership with Duke Energy,
Evensol’s joint venture will also own and operate two renewable natural gas (“RNG”) projects.
, specifically the Upper Piedmont Renewables and Foothills Renewables Projects (“UP&F”). UP&F will process landfill gas produced at the project site and convert the gas to RNG. RNG will be injected into local pipelines to supply homes, vehicles and businesses with low-carbon renewable fuel.
Based in Evensol
was founded in 2013 with a mission to acquire and develop renewable biogas projects. Evensol’s expertise and experience made them an established and attractive partner.
“This is an attractive transaction for Evensol and underscores the strong value created by UP&F’s development and near-term business success.”
, CEO of Evensol. “We are excited about the growth potential of our partnership with
We look forward to additional RNG projects in the future. ”
“This transaction represents an important next step in our growth.
We have built a sustainable infrastructure portfolio to meet both financial and ESG objectives. We own a landfill gas-to-electric project, but this is our first foray into the RNG business sector.”
,chief executive officer
“Evensol’s market-leading expertise in development, construction and operations
We are accelerating projects across the renewable fuels landscape. ”
Evensol began development several years ago on both the Upper Piedmont Renewables and Foothills Renewables projects, with construction breaking in the fourth quarter of 2021. Upon completion of both projects, approximately 500,000 of his RNG decatherms are expected to be produced each year. Demand for RNG continues to grow.
Transition to using more renewable fuels. This need is being addressed at the federal level by the Renewable Fuels Standards Program and various state-level programs.
low carbon fuel standards and
clean fuel program.
“We will continue to view Evensol, UP&F and future RNG developments as a blueprint for how to address environmental issues while increasing shareholder value.This is the beginning of a long-term partnership with Evensol. We believe and will actively consider pursuing additional investments and projects in the RNG sector.”
Chief Investment Officer for Power and Infrastructure
Kirkland & Ellis LLP is acting as legal counsel to Pacolet Milliken.
Head office location
greenville, south carolina
is a family-owned investment firm that owns and manages a range of real estate, power and infrastructure assets.
Pacolet Power & Infrastructure owns a diverse set of power, renewable energy and infrastructure assets. This includes regulated power portfolios, industrial utility companies, and substantial solar and landfill gas portfolios. Pacolet Real Estate has a nationwide portfolio of office, retail, industrial and multifamily properties and is currently focused on multifamily and industrial warehouse developments in the Southeast, Southwest and Southwest.
. In both departments,
aims to have a positive impact on the communities in which it operates and manage the environment from a generational perspective.
About EVENSOL LLC
EVENSOL LLC was established to create value for its partners, investors and project counterparties through the selective acquisition and development of renewable fuel-based energy assets. A particular focus is on the US and international biomass and biogas sectors. Evensol’s affiliate and strategic partner, Energyneering Solutions LLC (“ESI”), has been in business since 2007, designing and developing over 1 million MWh of renewable power and 50 million gallons of biogas utilization projects. We specialize in construction and operations. Yearly renewable vehicle fuel. ESI’s engineering team has worked on over 75 diverse biogas projects, including renewable natural gas facilities, biogas-to-energy facilities, landfill gas collection and control projects, anaerobic digestion projects, heat recovery and CHP projects. Essential for engineering, design, construction and operations. flare stations, and numerous other biogas and renewable fuel projects in the United States and abroad.
www.evensol.com and www.esisolutions.com
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