Sea Oak Capital Completes Capital Raise for US Solar Fund
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Sea Oak Capital, LLC
January 29, 2019, 10:00 ET
VERO BEACH, FL., January 29, 2019 – Sea Oak Capital, LLC (“Sea Oak”), a private equity firm specializing in renewable energy investment, has completed the capital raise for its US Solar Fund. The investors are comprised of family office capital and high net worth individuals.
“Flexible and tax efficient capital is a necessary component of successful investment in the increasingly competitive renewable energy space,” said Dan Poydenis, Chief Executive Officer of Sea Oak. “Coupling efficient capital with our robust pipeline and strong relationships leaves us well-positioned to meet our 2021 goal of 100MW of operating solar projects under management.”
The firm’s primary strategy is to acquire substantially developed photovoltaic project opportunities and to self-monetize the investment tax credits and depreciation benefits generated by the projects. In addition, Sea Oak has implemented a co-development strategy in order to enhance its pipeline by partnering with project originators and developers early in a project’s life. Click HERE to submit a project opportunity for initial underwriting by a Sea Oak analyst.
“We embrace the unprecedented project development occurring in the market and recognize the trend of investment dollars flowing earlier in the development cycle,” said Poydenis. “As an alternative to vertical integration, our customized co-development strategy enables us to secure pipeline at scale by adding value, mitigating risk and defraying development costs for our early stage partners.”
Sea Oak is currently focused on project opportunities 500KW and larger with a geographic focus of the continental US. The firm is actively pursuing projects with various design and offtake configurations, including community solar and battery storage.