DENVER, Oct. 06, 2021 (GLOBE NEWSWIRE) — Redeux Energy Partners (“Redeux” or the “Company”), a developer of utility-scale, clean energy projects, today unveiled additional details about its capital backing, operations and plans to develop gigawatts of renewable energy and storage assets. The funding was closed in late 2020, led by a combination of Cathexis Holdings and Thoroughbred Holdings. The Company’s uses of the funding include the continued development of over a gigawatt of projects, land acquisition, interconnection filings, co-development partnerships, project acquisitions and continued expansion of its platform.
Redeux is executing a multi-state development plan, working with landowners to enhance their property value with clean energy solutions that can be co-located with existing farming, timber, ranching and resource extraction operations. In addition to traditional “greenfield” project development, Redeux partners with fossil generators and resource suppliers to transition to clean energy solutions while re-using existing electric grid resources and rights, maintaining grid reliability and managing the liabilities of legacy operations. This strategy has resonated not only with investors, but also with state and local economic development teams as well as some of the largest mining operators in the country in active discussions with Redeux. The Company believes its approach can optimize land use and re-use, a growing concern with the proliferation of utility-scale energy projects on farmland, other virgin ground and natural habitat across the country.
“We are grateful for the capital support from Cathexis and Thoroughbred, and the shared vision to scale our Company,” said Rob Masinter, COO of Redeux. “Their financial commitment is a testament to the vision, team and early progress the Company has achieved. We are now accelerating expansion of our pipeline and related hiring as we continue to develop world-class projects on the vast land package our team is securing over six states in the MISO, ERCOT and SEEM energy markets.”
Redeux’s leadership team brings decades and gigawatts of experience in solar and storage project development, offtake origination, financing, construction and renewable and thermal plant operations. The Company has added talent from leading renewable industry players including AES, Invenergy, Lightsource BP, NARENCO, E3 and KPMG, and has assembled a land team from Noble, Anadarko, Crescent Point Energy and other top-tier energy companies.
Redeux’s lead financial sponsors include Cathexis Holdings LP, a multi-billion-dollar private equity investor with significant real estate holdings, and Thoroughbred Holdings, a private equity investor and operator focused on energy, infrastructure and natural resources assets.
“We are confident that Redeux will evolve into one of the key players delivering utility-scale, clean energy projects during the multi-decade energy transition that is currently underway,” said William Harrison, CEO of Cathexis Holdings LP. “Cathexis backs teams with experienced leadership, agility, systematic approaches to scale and the capability to execute – all traits we see in Redeux’s vision and platform.”
The US and other leading nations are currently pursuing a multi-trillion-dollar, multi-decade transition to cleaner sources of energy generation to power electrification of the industrial and transportation sectors. Redeux brings the talent, expertise and mix of both greenfield and brownfield development strategies to cost-effectively and efficiently site, permit and interconnect reliable, utility-scale, renewable energy projects.
“With a fully-funded platform to deliver a Gigawatt-scale, nationwide, renewable generation and energy storage project pipeline, Redeux is well-positioned to help fuel this once-in-a-generation energy transition,” Masinter concluded.
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, meets ESG goals and addresses local needs for economic and workforce development.