Oct 8 2010
SJF Ventures, a venture capital fund company in association with NGP Energy Technology Partners (NGP ETP), has concluded a ‘Series A preferred stock investment in a renewable energy developing and marketing company called Community Energy Inc.
While declaring the Series A financing Community Energy Inc (CEI) the company stressed its plans to have strategic dealings with the two companies to avail their help in its expansion plans. The investment will support the utility level solar power projects of the CEI currently under construction in places such as Mid-west, Northeast and West.
Brent Alderfer, CEO of Community Energy Inc, said that the two companies SJF and NGP ETP by associating with his company will provide the company the most sought after credentials and the strength required to complete the ambitious development plans of the company. He added that the company had built a number of successful strategic partnerships in the past to stay ahead in the renewable energy development and considers the current partnership with the two companies as the best ever.
Chris Sorrells, NGP ETP’s Managing Director, said that though the company tried for a space in the renewable energy projects but was never able to find a suitable partner. He added that his company is happy to associate with SJF Ventures in supporting a proven company that relentlessly engages itself in managing utility level solar project markets.