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Clean Energy Investing Since 2004

Since 2004, New Energy Capital has served its investors, focused on clean energy and infrastructure assets.

About New Energy Capital

New Energy Capital, an investment franchise of Victory Capital Management Inc., a registered investment adviser, is a leading alternative asset management manager which invests across the capital structures of clean energy infrastructure projects and companies. We focus on real assets which generate stable cash flows based on long-term contracts with utilities and other creditworthy counterparties. NEC has invested or committed more than $1 billion across more than 40 investments. The investment team has extensive experience in all aspects of clean infrastructure investing, including evaluating energy markets, projects, and technologies; developing and financing domestic and international power generation, fuels, wastewater management, and distributed generation facilities; and founding and managing renewable energy companies.

What We Do

NEC is a leading private investor in the renewables market.  We provide flexible capital solutions tailored to the specific needs and requirements of project developers and sponsors. NEC has the ability to invest in multiple technologies across the capital stack in both projects and companies, including but not limited to the below:


Energy Storage
Other Renewables


Senior secured first lien debt
Second lien debt
Mezzanine debt
Preferred equity
Common equity

Our Team

Headshot of Scott Brown, New Energy Capital CEO and Managing Partner

Scott Brown

Partner (Chairman)
Patrick Fox

Patrick Fox

Tom Naughton

Tom Naughton

Po Cheng

Po Cheng

Brad Heshmaty

Brad Heshmaty

Vice President
Bridget Youngs

Bridget Youngs

Senior Associate
Curt Whittaker, New Energy Capital Managing Partner

Curt Whittaker

External Legal Counsel