Windmill Capital Management, a clean energy capital and finance company, has launched the Windmill Clean Energy Credit Trust, a Delaware statutory trust offering that plans to fund purchase-money loans secured by commercial clean energy projects around the United States.
The fund is structured as a 506(c) Regulation D private placement and will offer up to $250 million of Class 1 shares to accredited investors. The proceeds will be used to fund purchase-money loans of $5 million to $10 million for clean energy project owners and users. Windmill Capital indicated that the shares will be offered in a series, with each backed by a specific group of loans.
“Commercial clean energy represents an overlooked opportunity for institutional and accredited investors,” said Brian Jones, managing director of Windmill Capital. “The lack of capital for the segment is due, in part, to the difficulty of sourcing high-quality projects. We formed [Windmill Clean Energy Credit Trust] to bridge that divide.”
The fund will consider loans secured by commercial solar, cogeneration and biomass projects to owners who sell or use the generated energy. Windmill Capital will originate and service the loans and its affiliated registered investment advisor, Windmill Capital Adviser, serves as the fund manager.
Windmill Capital Management is focused on the clean energy market and works with sponsors, developers and operators of commercial and industrial solar, cogeneration and biomass projects to provide access to new capital sources.