Toronto, ON – March 19, 2018 / – Forum Equity Partners (Forum) and BioStar Renewables (BioStar), a diversified late-stage renewable energy developer, today announced a deal through which Forum is providing US$15 million in development capital for BioStar’s pipeline of late-stage solar power generation projects throughout the U.S. The financing will significantly expand BioStar’s capability to advance its pipeline earlier in the development cycle, in order to provide capital, construction management and long-term asset management for energy projects worldwide.
“Forum looks forward to providing the capital required to rapidly grow BioStar’s business, and the potential long-term equity investment opportunities that will arise from being involved at an earlier stage of development,” says Bram Walters, Forum’s Managing Partner of Power & Renewables. “BioStar’s platform provides a full suite of capabilities to advance projects from development through operation and long-term asset management, which fits directly with Forum’s focus on providing financing across the development cycle. Their highly experienced team has the demonstrated ability to manage the high-risk, early-stage development process.”
“BioStar looks forward to using this capital to expand our business at a time when renewable energy has reached a tipping point,” says BioStar CEO, Bill Love. “Solar and wind made up 62% of all U.S. new power construction in 2017. The additional funds will allow us and our co-development partners to bring more solutions and greater value to our customers in an expedited manner. “This predevelopment capital, combined with our ability to provide construction financing, sponsor equity, tax-credit monetization, and long-term debt rounds out the entire capital-stack from early stage through long-term asset ownership.”
Forum Equity Partners is an alternative asset private capital investor with a focus on energy & renewables, infrastructure, and real estate. Headquartered in Toronto, ON, with an office in Vancouver, BC, and $1.3 billion enterprise value of assets under management, Forum is committed to achieving aggressive growth through investments and partnerships across rapidly emerging industries and markets, with innovative structures and unconventional investment approaches. For more information, please visit: www.forumequitypartners.com.
BioStar Renewables is a renewable energy investment and development company that focuses on solutions that both reduce and produce kilowatts. The company’s principals have built over 1,000 megawatts of solar, biomass, and combined heat and power projects. This, in combination with energy management and efficiency services, provides a holistic approach for a comprehensive energy plan. BioStar provides the full capital-stack from early development through completion and will own/operate systems for the full project tenure to ensure customers have operational and contract continuity. For more information, visit www.biostarrenewables.com.
Bram Walters – Forum Equity Partners Managing Partner, Power & Renewables 416-947-1994 firstname.lastname@example.org