New Energy Capital
New Energy Capital is a Victory Capital investment franchise that provides debt and equity capital to North American clean-energy infrastructure developers and sponsors across solar, wind, storage, efficiency, and hydroelectric projects.
- Company typePrivate
- Founded2004
- HeadquartersHanover, Germany
- Headcount1–10
- GTM typeB2B
- OfferingServices
What New Energy Capital does
New Energy Capital is a private alternative asset manager that operates as an investment franchise of Victory Capital Management Inc. The firm provides project developers and sponsors with capital for small- and mid-sized clean-energy infrastructure projects and companies in North America, investing across the capital structure rather than operating a conventional software or industrial platform.
Its disclosed offerings include the New Energy Capital Infrastructure Credit Fund II, a $500 million hard-cap vehicle, and flexible capital solutions spanning senior secured first-lien debt, second-lien debt, mezzanine debt, preferred equity, common equity, and warrants. Investments cover solar, wind, energy storage, energy efficiency, hydroelectric power, other renewables, and water-related infrastructure. The stated focus is real assets intended to generate stable cash flows under long-term contracts with utilities and other creditworthy counterparties.
The business model is fund-based: NEC earns management fees and carried interest from private funds and raises capital from endowments, foundations, insurance companies, pension plans, health systems, and family offices through direct institutional distribution. Fund terms and pricing are not publicly disclosed. The firm reports more than $1.6 billion invested or committed across more than 50 investments and is headquartered in Hanover, New Hampshire; Victory Capital acquired NEC and assumed its investment-advisory activities in 2021.
New Energy Capital firmographics
Firmographics- Name
- New Energy Capital
- Legal name
- New Energy Capital
- Website
- https://newenergycapital.com
- Company type
- Private
- Founded year
- 2004
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- New Energy Capital is a Victory Capital investment franchise that provides debt and equity capital to North American clean-energy infrastructure developers and sponsors across solar, wind, storage, efficiency, and hydroelectric projects.
- Ownership category
- akta.pro rank
New Energy Capital industry classification
Industry- Product category
- Clean energy infrastructure investing
- NAICS
- Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259), Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Renewables & Energy Transition Funds (Solar, Wind, Hydrogen, CCUS) (FSANAEAD)
- akta.pro secondary industries
- Renewable Energy Infrastructure (FSAAAKAG), Real Assets — Energy & Power Infrastructure (Renewables, Conventional, Storage) (FSAHAIAD)
Keywords
Where New Energy Capital is headquartered
LocationHeadquarters
- HQ city
- Hanover
- HQ country
- Germany
- HQ region
- Europe
Offices1 record
Markets served
New Energy Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Others, Marketing or Sales
Revenue model
- Asset Management Fees: NEC generates revenue through management fees and carried interest from managing private equity funds focused on clean energy infrastructure, including debt and equity investments across the capital structure of projects and companies.
- Fund Management - Infrastructure Credit Fund II: Fund V raised $500 million hard cap from institutional investors including endowments, foundations, insurance companies, pension plans, health systems, and family offices.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
New Energy Capital product offering
Product offeringCore offering
New Energy Capital is a private investment manager that provides flexible capital solutions to small- and mid-sized clean energy and clean water infrastructure projects and companies. It invests across the capital stack—senior secured first lien debt, second lien debt, mezzanine debt, preferred equity, common equity, and warrants—across solar, wind, energy storage, energy efficiency, hydroelectric, and other renewable technologies. Capital is raised from institutional investors (endowments, foundations, insurance companies, pension plans, health systems, and family offices) and deployed via private equity funds, with the current flagship being the $500 million New Energy Capital Infrastructure Credit Fund II (Fund V).
Product overview
New Energy Capital operates as an investment management franchise of Victory Capital Management, offering fund-based investment products focused on clean energy infrastructure. The primary offering is the New Energy Capital Infrastructure Credit Fund II (Fund V), a $500 million private equity fund focused on debt and equity investments in small- to mid-sized clean energy infrastructure projects and companies. The firm provides flexible capital solutions across multiple capital stack layers including senior secured first lien debt, second lien debt, mezzanine debt, preferred equity, common equity, and warrants. Investment activities span multiple renewable energy technologies including solar, wind, energy storage, energy efficiency, hydroelectric, and other renewables. The products and services are structured as investment funds and capital deployment solutions rather than technology products or SaaS offerings.
Differentiator
Problem solved
Functional benefit
Products and services
- New Energy Capital Infrastructure Credit Fund II (Fund V)
- Flexible Capital Solutions
Companies that use New Energy Capital
Customer profileNamed customers2 records
Segments2 records
Ideal customer profiles2 records
New Energy Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
New Energy Capital partnerships and signals
Strategic signalScale indicators6 records
Recent moves3 records
Expansion highlights4 records
New Energy Capital competitors and assessment
Company assessmentDirect peers
- Hannon Armstrong Sustainable Infrastructure Capital: Public clean energy infrastructure financier (formerly Hannon Armstrong Capital, where NEC partner Patrick Fox previously worked) providing debt and equity to renewable projects across the capital stack — directly comparable to NEC's flexible capital strategy.
- Generate Capital: Sustainable infrastructure investment platform providing debt and equity across solar, storage, efficiency, and other clean energy technologies — closely mirroring NEC's mid-market, multi-technology, full capital-stack approach.
- Greenbacker Renewable Energy Company: Manager of yield-oriented renewable energy funds investing in solar, wind, and storage projects via debt and equity — directly comparable in mandate and technology focus to NEC's infrastructure funds.
- Energy Capital Partners: Private equity firm focused on power generation, renewables, and energy infrastructure investments — highly comparable as a PE manager investing in clean energy infrastructure across the capital stack.
- Quinbrook Infrastructure Partners: Specialist infrastructure manager investing across renewables, storage, and the energy transition value chain — a newer-generation peer with a similar thematic and full-stack mandate as NEC.
Broad incumbents
- Brookfield Renewable Partners: One of the world's largest publicly listed renewable energy operators and investors — a broad incumbent in clean energy infrastructure investing against whom NEC competes on deal flow and LP capital.
- Stonepeak Infrastructure Partners: Major infrastructure private equity firm with significant clean energy and energy transition exposure — competes with NEC for both mid-market infrastructure deals and institutional LP mandates.
- I Squared Capital: Global infrastructure private equity manager with renewable energy and energy transition strategies — a broader incumbent competing for mid-market renewable infrastructure transactions.
- Clearway Energy: Publicly traded owner and operator of renewable energy and conventional generation — adjacent incumbent that both invests in and competes for renewable infrastructure projects.
Emerging players
- Kimmeridge Energy Management: Energy-focused investment manager with newer strategies spanning upstream, midstream, and energy transition — recently co-invested alongside NEC in SYSO's Series B, indicating thematic adjacency.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks5 records
Key highlights7 records
Customer concentration
New Energy Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
New Energy Capital leadership team
Management profileNumber of profiles
Profiles6 records
New Energy Capital funding detail
Funding detailFunding overview
Funding rounds1 record
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
New Energy Capital M&A and investment
M&A and investmentM&A
Investments8 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about New Energy Capital
What does New Energy Capital do?
New Energy Capital is a private investment manager that provides flexible capital solutions to small- and mid-sized clean energy and clean water infrastructure projects and companies. It invests across the capital stack—senior secured first lien debt, second lien debt, mezzanine debt, preferred equity, common equity, and warrants—across solar, wind, energy storage, energy efficiency, hydroelectric, and other renewable technologies. Capital is raised from institutional investors (endowments, foundations, insurance companies, pension plans, health systems, and family offices) and deployed via private equity funds, with the current flagship being the $500 million New Energy Capital Infrastructure Credit Fund II (Fund V).
Is New Energy Capital a public or private company?
New Energy Capital is a private company. It is classified as corporate owned and is currently operating.
When was New Energy Capital founded?
New Energy Capital was founded in 2004. It employs 1 to 10 people.
Where is New Energy Capital based?
New Energy Capital is headquartered in Hanover, Germany, in the Europe region.
How does New Energy Capital make money?
Two revenue lines are on record. Asset Management Fees are the primary driver. The others are fund Management - Infrastructure Credit Fund II.
Who are New Energy Capital's main competitors?
Direct peers on record are Hannon Armstrong Sustainable Infrastructure Capital, Generate Capital, Greenbacker Renewable Energy Company, Energy Capital Partners and Quinbrook Infrastructure Partners. Broad incumbents are Brookfield Renewable Partners, Stonepeak Infrastructure Partners, I Squared Capital and Clearway Energy. Kimmeridge Energy Management is listed as an emerging player.
Does New Energy Capital have an API?
No public API is recorded for New Energy Capital.
What industry is New Energy Capital in?
New Energy Capital's product category is Clean energy infrastructure investing. Its primary akta.pro industry code is FSANAEAD, Renewables & Energy Transition Funds (Solar, Wind, Hydrogen, CCUS), with a secondary code of FSAAAKAG, Renewable Energy Infrastructure. Its NAICS code is 523940 and its SIC code is 6282.