Solar Industry Veterans Launch Segue Sustainable Infrastructure to Capitalize Development Stage Renewable Energy Projects

Source: · CISION · | July 14, 2021

Close over $100 million in commitments from NGP Energy Technology Partners III and management

Source: CISION PR NEWSWIRE

SAN FRANCISCO, July 14, 2021 /PRNewswire/ -- Solar energy industry veterans David Riester and Joseph Song have launched Segue Sustainable Infrastructure to provide development capital to renewable energy and energy storage projects. Riester previously led project finance for Cypress Creek Renewables and co-founded GSSG Solar and Lacuna Sustainable Investments. Song led the engineering team at SunEdison and later held an executive leadership role at Sol Systems where he oversaw engineering, development, and operations. Combined across their careers, they have developed, designed, or financed over 8 GWs of projects currently operating across 35 states. Riester and Song are actively building out the team and expect to announce multiple senior additions in the coming weeks.        

"Significant value is created during the development phase of a project. Yet the market for capital willing to support this value-rich phase of the lifecycle is thin, erratic, and opaque" said Riester. "Too many developers with great ideas are forced to sub-optimally capitalize their projects, sell out too early, or abandon their projects altogether. We are going to offer a better path."

"We bring both finance and technical expertise, plus years of pattern recognition, to project development," said Song.  "We've been doing this for years, so we know development is messy: essentially a couple years of troubleshooting and course-correcting followed by monetizing the cleaned-up asset as best you can. We like to navigate these choppy waters together with the development partners we back."