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EverPower is a top US wind energy development and generation company with a significant portfolio of assets in the Northeast and West Coast power markets. The business was acquired by Terra Firma in November 2009.
Asset-Backed: EverPower has seven operating wind farms with a total of 752 MW of generating capacity. Wind farms are an infrastructure-type asset class, with established channels of project financing and the possibility of long-term power contracts.
Requiring Fundamental Change: The financial crisis was a difficult period for the wind power sector, leaving many companies under-capitalised and unable to finance their development plans. This offered an opportunity to enter the market at a low point in the cycle, bring a disciplined approach to construction and development costs and to take advantage of the distressed market to pursue further acquisitions to generate scale.
Transforming strategy
Strengthening management
Developing through capital expenditure
Building through mergers and acquisitions
Lowering the cost of capital to create extra upside
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