Fundamental Advisors Increases Credit Facility with Birch Creek Development
Posted on 07/07/2022
Formed in 2007, Fundamental Advisors LP is an alternative asset manager dedicated to municipal, public purpose and community assets. On July 5, 2022, Fundamental Renewables, a unit of Fundamental Advisors, increased its existing credit facility with Birch Creek Development LLC to US$ 250 million. Proceeds from the credit facility will fund the development and construction of utility scale solar projects in Birch Creek’s portfolio as well as strategic acquisitions in key markets. In addition, the credit facility supports Birch Creek’s solar module procurement strategy, a key component of the company’s growth plan. Birch Creek focuses on the development and financing of utility scale solar and storage projects in the United States. Since 2019, the company has financed over 700 megawatts (MW). Birch Creek has 5+ gigawatts (GW) of utility scale solar pipeline in various stages of development across MISO, PJM, Texas, and the Southeastern part of the U.S.
Laurence L. Gottlieb is the Chairman, Chief Executive Officer and Co-Founder of Fundamental Advisors LP. Gottlieb has focused his career on revitalizing distressed assets and businesses. Prior to founding Fundamental, Gottlieb was Co-head of Citigroup’s Municipal Distressed & Special Situations Proprietary Trading Desk.
Birch Creek Development CEO Dan Siegel, formerly Senior Vice President of Renewable Energy at U.S. Bank and Birch Creek Development Chief Operating Officer Chris Norqual, formerly Vice President of Market Development at Cypress Creek, work at the developer.