Energy Capital Partners

Energy Capital Partners (ECP), based in New Jersey, was founded by Doug Kimmelman in 2005 and has $19 billion in AUM. As of the end of July 2024, out of the 14 energy companies in its portfolio, 64 percent of them have fossil fuel assets.

While the firm does not have any LNG terminals or coal-fired power plants in its portfolio, it does back Ramaco Resources, which operates nine coal mines in the United States. The firm was also found to be the largest private equity investor in US power plants in an analysis completed by Americans for Financial Reform in 2022, with around 60 gas-fired power plants in its portfolio. These gas plants alone are responsible for an estimated 46.5 million metric tons of CO2e annually.

The firm also ranked as the number seven top polluting company on the 2023 University of Massachusetts Amherst Political Economy Research Institute’s (PERI) Greenhouse 100 Polluters Index. On the 2024 Private Equity Climate Risks Scorecard, Energy Capital Partners earned a C.

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The firm announced in May 2024 that it closed its most recent flagship fund, ECP V, at $6.7 billion raised. The fund will be focused on energy transition and infrastructure investments. ECP also announced its most recent take-private acquisition in May of Atlantica Sustainable Infrastructure–the company has a gas-fired power plant in Mexico and renewable energy assets in the UK, Spain, Italy, South Africa, and a few South American countries.

In Sept 2023, ECP and Bridgepoint announced a merger between the two firms, though the deal was rejected by the Federal Energy Regulatory Commission (FERC) in March 2024 citing competition concerns.