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CleanTech Alliance Fund
United States of America
Last updated 12 May 2020, by Impactyield.
Fund geography
Developed countries (203) / More developed regions (202) / More developed regions (North America, Asia & Oceania) (153) / United States of America (113)
The CleanTech Alliance Fund invests in renewable energy infrastructure projects in the U.S. The Fund's strategy is to create a diversified portfolio of 10-20 projects across energy generation (solar, wind, fuel cells), waste-to-energy, energy efficiency and energy storage projects. There is a significant collateral benefit of U.S. union job creation.
We mitigate risk by (1) entering projects at the construction phase (after engineering and permitting is completed), (2) using only proven energy generation equipment (i.e., no or low technology risk) and (3) securing long-term power purchase agreements with inflation protection provisions with local buyers (typically investment-grade-rated local utility).
Financial description
Investments are made in sub-$75mm renewable energy infrastructure projects. Since the credit crisis, there has been a capital void for this type and size of project, presenting an opportunity for strong investment returns. The CleanTech Alliance Fund is targeting 12 to 15% net returns. The average holding period for comparable investments is 33 months.
8 years
of track record
2016
the year funded
n.a.
AUM
Interested in this fund?
Log in or create an account to request more information.
Gain a deeper and comprehensive understanding of how this fund generates positive impact in the themes and SDGs that matter to you, with insights provided by our dedicated team of expert analysts, and receive notifications about new available impact products, exciting investment opportunities, and relevant updates in the world of impact investing.
Asset manager
North Sky Capital
Headquarters location: United States of America
Other funds managed by this asset manager: North Sky Direct Fd IV LpAlliance Fund II, LPClean Growth Fund IVClean Growth Fund III, LP
SDG goals
SDG targets
Affordable and sustainable transport systems
Substantially reduce waste generation
Universal access to modern energy
Increase global percentage of renewable energy
Double the improvement in energy efficiency
Expand and upgrade energy services for developing countries
Full employment and decent work with equal pay
Impact Category
Key performance indicators
Fund overview
Asset manager: North Sky Capital
Product track record: Fund has 8 years of track record
Target IRR: 12%
Committed Capital: 205,000,000 USD (US Dollar)
Target return category: Risk-adjusted market-rate of return
Fund domicile: United States of America
Product status: Closed - still investing
Style/Stage: Development
Inception year: 2016
Vintage year: n.a.
Target region: Developed countries, More developed regions, More developed regions (North America, Asia & Oceania), United States of America
Target close date: n.a.
Product term: n.a.
Assets under management: n.a.
Investment size: Min: 0; Max: 0; Avg: 0
Co-investment policy:
Currency of investments: USD (US Dollar)
Currency for fund / product figures: USD (US Dollar)
Fund investments to date: 15
Fund investments to date exited or repaid: 0
Management fee: 1.6%
Carried interest: 16%
Hurdle rate: 6%%
GIIN Investors' Council Investment: No
Limited Partners / Investors: 15 Limited Partners, primarily pension plans (Taft Hartley) and foundations.
Limited Partner / Investor Type: Endowments/Foundations, Family Office, Pension Funds, Other Institutional Investors
Contact
E-mail: n.a.
Phone number: 612-435-7150
If you wish to have your details removed from this database please email gdpr@impactyield.com
Impact Performance
n.a.
Impact thesis
The CleanTech Alliance Fund has both a significant environmental impact and social impact through building renewable energy infrastructure and U.S. job creation, respectively. Taking environmental concerns into consideration, the Fund is geared to reduce dependence on traditional fossil fuels. The Fund promotes renewable energy and reduces emissions. Secondly, a key premise to each investment is the promotion of US-based union jobs. Through the Fund’s first several investments, and the integral role of our fund ombudsman, we have effectively created union jobs.
Impact Management
n.a.