Redeux Energy Launches 1.7 GW Project Portfolio Sale; Retains Marathon Capital as Financial Advisor

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Sep 07, 2023, 08:30 ET

DENVER, Sept. 7, 2023 /PRNewswire/ -- Redeux Energy Partners LLC ("Redeux"), a leading utility-scale solar and energy storage development company, has retained Marathon Capital, LLC ("Marathon Capital") as its exclusive financial advisor to sell up to 100% of the equity interests in an eleven-project, seven-state portfolio. Redeux's first portfolio brought to market consists of over 1.7 Gigawatts (GWdc) of solar capacity plus 160 Megawatts (MW) / 640 MWh of battery energy storage (BESS) capacity in the SERC and MISO energy markets. Marathon Capital's outreach has included qualified independent power producers, strategics, and financial players across the clean energy markets to support Redeux's objective of closing the transactions by December 2023.

"We've built Redeux to consistently deliver high-quality development portfolios to market. This first process is a key milestone for the company, and we're very pleased to be represented by Marathon Capital," said Rob Masinter, Chief Executive Officer.

Other highlights during 2023 include:

3.5 GW project pipeline as of August, including standalone BESS projects in ERCOT
Three notable additions to leadership team, each from top renewables companies
Move to new office space in downtown Denver to accommodate growth in headcount

Redeux has implemented robust and scalable processes to site and develop high-quality, utility-scale solar and BESS projects in high-value, high-demand energy markets. Since 2020, Redeux has engaged with landowners across farming, timber, ranching, and resource extraction industries to identify project development opportunities. Currently active in 15 states within MISO, SERC, WECC, and ERCOT, the company has over 26,000 acres under site control. Redeux is on track to increase its PV, Hybrid and BESS project pipeline from 3.5 GW capacity, most of which is filed for interconnection, to 5 GW by year end.

"Redeux is delivering in line with its vision of GW-scale, high-quality clean energy project development - clearly demonstrating the capability of its people and processes," said William Harrison, CEO of Cathexis Holdings, the company's largest shareholder.

Led by industry veterans with proven track records in all aspects of renewable energy development, finance, and operations, Redeux's development platform is designed to annually originate and sell renewable energy projects at GW-scale into the utility-scale solar and energy storage markets. The utility-scale segment of the solar market is forecasted to deploy 20 GW in 2023, ramping annually to over 35 GW in 2028¹.

The company has recently added several seasoned professionals to its leadership team.

Darin Huseby, Vice President of Development, brings over 30 years of project development, finance, and M&A experience. Prior to Redeux, Darin was Vice President of Development for Scout Clean Energy.
Milap Shah, Vice President of Engineering, is an engineering leader with over 25 years of experience with renewable energy deployment and utility operations. Before joining Redeux, Milap was the Director of Engineering for EDPR NA (EDP Renewables North America).
Lea Jesen, Controller, brings over 18 years of senior finance and accounting experience. Prior to Redeux, Lea served as Financial Controller at Scout Clean Energy and Assistant Controller for Commercial Transactions at RES Americas.

These and other recent hires have expanded the Redeux team to 35 members and warranted the recent move of company headquarters to a larger office space located in downtown Denver.

About Redeux Energy
Redeux Energy is a utility-scale solar and storage development company with expertise in a range of strategies to transform greenfield, brownfield and industrial lands into renewable power infrastructure that produces new revenue streams and addresses local needs for economic and workforce development. Redeux is powered by exceptional people and processes. Redeux is backed by Cathexis Holdings - a Houston-based, multi-billion dollar, single-member family office with active investments across industries including real estate, infrastructure, and energy. Thoroughbred Holdings, a Redeux investor and co-founder, originates and supports investments in world-class infrastructure, energy and natural resource assets.

REDEUX ENERGY CONTACT
Steve Drew
Vice President, Market Strategy
[email protected]

About Marathon Capital
Over its more than two-decade history, Marathon Capital has emerged as the world's largest independent advisory bank serving the global sustainable energy, technology and infrastructure markets. Marathon Capital is known as a key thought leader in global energy transition and is consistently viewed as the most innovative bank across clean energy. Since inception, Marathon Capital has been engaged by its clients and institutional counterparties across all clean energy sectors. The Company has strong, established relationships with both strategic and financial institutional investors located throughout the United States, Canada, Latin America, Europe, Middle East, Asia, and Australia. Marathon Capital operates from its global headquarters in Chicago, IL, and offices in New York, Houston, San Francisco, London, as well as representative offices in São Paulo, Madrid, and Seoul.