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Windmill Capital Launches $250MM Clean Energy Fund

May 11, 2020, 09:00 AM
Filed Under: Energy

Windmill Capital Management (WCM), a clean energy capital and finance company, announced the launch of an offering for a private clean energy investment fund. Windmill Clean Energy Credit Trust (CECT) will offer up to $250 million of Class 1 Beneficial Interests (Shares) to accredited investors. CECT, a Delaware statutory trust, will fund purchase-money loans secured by commercial clean energy projects around the United States.

“Commercial clean energy represents an overlooked opportunity for institutional and accredited investors. The lack of capital for the segment is due, in part, to the difficulty of sourcing high-quality projects. We formed CECT to bridge that divide,” commented Brian Jones, managing director of WCM.

“We expect CECT to fund purchase-money loans of $5 million to $10 million for clean energy project owners and users. CECT will offer Shares in series, each of which is backed by a specific group of loans. We think this structure allows investors greater flexibility and makes the fund more responsive to borrowers.”

CECT will consider loans secured by commercial solar, cogeneration and biomass projects to owners who sell or use the generated energy. WCM will originate and service the loans and Windmill Capital Adviser, a California Registered Investment Advisor and an affiliate of WCM, is the fund manager.

The offering is being made in reliance on Rule 506(c) of Regulation D promulgated under the U.S. Securities Act of 1933, as Amended (the “Securities Act”). CECT intends to engage in general solicitation for the sale of Shares. As a result, all investors in Shares must be Accredited Investors, as defined in Regulation D.

The Shares have not been, and will not be, registered under the Securities Act or any state securities law. The Shares may not, except as specifically provided in the Trust Agreement, be sold, pledged or otherwise transferred by the holders thereof at any time except with the written consent of the Manager, which may be withheld in certain instances.

Prospective investors should be aware that they may be required to bear the economic risks of this investment for an indefinite period of time.

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