CHESTER, Conn., Oct 24 — Energea, a U.S.-based investment platform that manages energy infrastructure portfolios, today announced that it is expanding its U.S. portfolio beyond solar investments to include electric vehicle (EV) charging investments. Energea Portfolio 4 USA LP (“the Portfolio”) has committed up to $20 million to finance the buildout of EV charging stations.
The Portfolio’s first transaction is a $10 million credit facility to ChargedEV, a developer and owner of Tesla V4 Supercharger stations. The initial draw off the facility is secured by two operating charging stations in Georgia. The capital is intended to fund the expansion of ChargedEV’s portfolio in the Southeast United States. Energea is negotiating a similar structure with a second charging station developer.
“We see significant opportunities to grow our U.S. portfolio by expanding its scope to broader energy infrastructure investments,” said Mike Silvestrini, Co-Founder and Managing Partner at Energea. “The Southeast U.S. continues to experience strong population growth, and to accommodate that growth, more capital is required to fund infrastructure like EV charging stations. We see a growing demand for EV chargers resulting in a new asset class with recurring, energy-based revenue. Having our first investments on the world’s most recognized EV charging platform provides a perfect onramp.”
The financing structure features monthly payments, a fixed interest rate, seven-year amortization of each draw following a short interest-only period, a first-priority secured interest in the charging station assets and an option for the Portfolio to acquire a minority equity interest in the assets at a future date.
Energea intends to seek similar investments with more charging station development companies in the U.S.
“Investors are seeking differentiated sources of income in their portfolios beyond traditional bonds and corporate lending strategies. Investments secured by operating energy infrastructure are a natural extension of what we’ve done since inception,” said Chris Sattler, Co-Founder and Managing Partner at Energea.