Ares · Renewables & solar
GRP Holdco
$82.5M tax equity raised
RolesInterim CFO · M&A
OutcomeFinancing · Tax equity
Period2022–present
The same people who closed the books ran the raise. Fairlead manages GRP Holdco, the owner of two operating biomass projects in Georgia (116 MW under 30-year power purchase agreements), and prepared the model, the diligence room, and the investor process for its tax equity financing: $82.5M committed, monetizing production tax credits through 2029.
The structure had to work for a project-debt consortium led by an Ares Management infrastructure debt fund, the tax equity investor, and the company at the same time. It closed in March 2023.