NewEnergyNews: Marines Assault Old Energy In $80 Million Solar Build

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    Thursday, February 23, 2017

    Marines Assault Old Energy In $80 Million Solar Build

    These Marines Beat the Odds to Build a Solar Energy Fund

    Jeremy Quittner, February 22, 2017 (Fortune)

    “As marines, Rye Barcott and Dan McCready had plenty of experience performing under pressure, but neither had much knowledge about the high stakes world of investing and finance. That didn’t stop them from leaving their well-paying day jobs to start…[Double Time Capital to invest in utility-scale solar and,] in just over three years, the firm has raised seven funds, totaling $80 million, from investors including Prudential Financial, Burt’s Bees, former Bank of America chief executive Hugh McColl, Jr., and former Duke Energy CEO Jim Rogers, who now advises the company…Double Time has financed 36 solar energy projects, which collectively produce roughly 10% of North Carolina’s solar power…Barcott and McCready’s plans run counter to many of the prevailing national trends around alternative energy…Hostile president or not, Barcott and McCready are confident they found a market opportunity. While SolarCity, Vivint and their ilk install individual solar projects on commercial and residential roofs, Barcott and McCready wanted to address the financing needs of the utility-scale solar developers, which provide power directly to the electrical grid via solar farms…” click here for more

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