Kendall Sustainable Infrastructure is an investment firm dedicated to building and owning renewable energy projects for their consistent cash flows and for their direct and positive environmental and social impact. We are currently building a portfolio of solar energy projects, and we also consider wind, hydropower, geothermal and other renewable energy projects. The principals of Kendall Sustainable have over twenty years of combined energy and private investing experience. We typically work with strong regional renewable energy developers to advance projects to a construction ready stage, and then acquire full ownership of the assets just prior to construction. We finance and build out projects and then own them for their long-term, consistent cash yields. Our investment vehicles are Delaware limited partnerships, structured with competitive and investor-favored private equity terms and conditions. Kendall Sustainable Infrastructure is an affiliate of Kendall Investments, LLC, a private equity firm founded in 2004.
Firm Headquarters: US & Canada
Years of Operation: More than 10 years
Total Assets Under Management:
$100 – 249MM
Total Number of Investors: More than 25
% of Capital from Top 3 Investors: Less than 25%
Kendall Sustainable Infrastructure invests in renewable energy projects for their long-term cash flows. We plan quarterly cash distributions to limited partners and expect a portfolio sale of our operating assets to a strategic buyer. We seek to mitigate or eliminate risk at every stage of our investment process. The projects that we invest in use proven technology. We use only tier one, fully warrantied equipment. We also avoid commodity volatility by investing only in projects, such as solar energy projects, that have no feedstock or commodity input, and no carbon output. We invest in the "distributed generation" market, where projects are larger than residential rooftops, but smaller than utility scale projects. We invest only when projects have in place long-term contracts for the purchase of all of their output. We are not project developers seeking to originate and re-sell projects. The result is a portfolio of mid-sized projects that generate consistent annual cash from operations, which is intended to be distributed quarterly to investors.
One example of an investment that we have completed is a portfolio of community solar arrays in a NorthEast state. At this point, five projects are built and billing for power or in construction. We are in the process of building an additional 40 to 50 similar projects. The projects are ground-mounted solar projects and are 203 kW DC each. They take up about an acre of land each, and provide enough energy for approximately 30 households. The projects are "virtual net-metered." They sell all of their power directly into the grid, which creates credits. Ratepayers then pay for those credits to offset their electric bills. Our projects:
1) earn an attractive return for our investors
2) provide clean, safe and cost-effective power to the communities they serve
3) offset the use of coal, natural gas, nuclear and other potentially harmful sources of electric power
4) have a direct and positive impact on the environment.
Target Financial Returns Relative to Benchmark:
Above Market Rates
Actual Performance Relative to Target Financial Returns in the Past Three Years:
Over-delivered compared to initial target returns
Financial Reporting Frequency to Investors or Donors
Percentage of Total Assets Under
Management that are Impact Investments:
25% – 49%
Primary Impact Outcomes:
Addressing climate change and environmental issues
Value-added Services Offered:
Investments systematically target companies where social and/or environmental impact is integral to the product/service being created:
Kendall Sustainable Infrastructure invests only in renewable energy projects with positive environmental impact. Our projects have no fossil input or emissions. Instead, they create power from non-depletable natural resources, typically sunlight or wind. We do not invest in projects that use coal, oil, natural gas, uranium, biofuels or other products in order to create power. The result is that our projects offset traditional power production and replace it with clean, renewable and sustainable infrastructure assets that will produce power for decades into the future. Each project generates and support new "green collar" jobs throughout its lifecycle. Wherever possible, we hire and source local labor and materials.
Investments systematically include social and environmental sustainability practices in the due diligence process:
Kendall Sustainable Infrastructure I invests in energy producing assets, not in companies. As a result, we do not own equity in companies with employees, employment policies, physical office space, recycling policies or many other indicia of social responsibility. Our investments consist of projects that produce direct and positive environmental impacts and serve their communities and the world's environment by responsibly created clean, renewable power. That said, we partner with developers and EPC firms. KSI evaluates our partners and attempts to work with mission driven organizations and B-Corps.