We focus on cash-flow, asset quality and sponsor experience

Windmill Capital Management serves clean energy developers and investors with project capital and investment opportunities.  We work with best-in-class sponsors, developers and operators of commercial and industrial solar, cogeneration and biomass projects to provide access to new capital sources. We focus on cash-flow, tax benefits, asset quality and sponsor experience to introduce clean energy investments to a wide range of investors.

The Windmill Environment

Background and History


Windmill Capital Management brings more than 25 years of experience to support the needs of both clean energy project sponsors and investors. Our expertise includes investment banking, capital markets, mergers and acquisitions, operations, taxes and asset management. We identify high quality projects, structure appropriate capital structures, and source investments.  Our team has successfully completed more than $10 billion of capital markets transactions and $40 billion of public company mergers and acquisitions. With diligent analysis and underwriting, we increase transparency in inherently opaque transactions, expanding the marketplace for clean energy project development and investment

Our Team


Our founder, Brian Jones, established Windmill Capital Management to broaden the commercial and industrial clean energy capital ecosystem.  Mr. Jones spent more than 15 years on Wall Street as a real estate investment banker helping REITs and other real estate operators increase stakeholder value through access to new capital and strategic transactions.  He later helped build a $30 billion asset manager where he led investment strategy innovation and served as Chief Financial Officer to two publicly-traded affiliate companies. Earlier in his career, Mr. Jones was a tax manager at a Big 4 accounting firm.  Mr, Jones is a Certified Public Accountant, licensed in California since 1994 (inactive). 

Philosophy and Culture


Windmill Capital Management is focused on meeting the under-served capital needs of the commercial and industrial clean energy market by assisting experienced project sponsors to expand and develop new funding sources and facilitating investment from a broad range of capital sources.  In addition to reducing greenhouse gas emissions responsible for climate change, these projects offer investors above-market risk-adjusted returns. At the same time, C&I clean energy is an often overlooked investment category. We help educate the investor community about what clean energy projects are, how they work from an investment stand-point and how to participate.  By increasing awareness and transparency of C&I clean energy investments, we hope to expand the use of clean energy to make a positive impact on our communities and the world.  

Sustainable investing is value investing

Investors interested in clean energy as part of a socially responsible, sustainable or social impact investment strategy should consider adding direct investments to their portfolios.  Participating in direct investments allows investors to know that 100% of capital is being allocated in a sustainable and socially responsible way. In addition, sustainable investments often share characteristics with other value investments:

      • Higher current returns
      • Non-financial returns
      • Lower obsolescence risk
      • Lower regulatory risk
      • Premium product without premium value (yet)


How we help

We identify high-quality clean energy investment opportunities and bring them to high net worth, family office and institutional investors. We source projects from a nationwide network of clean energy developers who are leaders in their respective fields / regions.  We undertake extensive financial and qualitative diligence to ensure only the best opportunities are represented. Finally, we present these opportunities with transparency and fair fees.

Interested in joining our clean energy developer network?  You can learn more here.

Look here to learn more about available investment opportunities.

Industry and Community


At Windmill Capital Management, we believe we owe a duty to our professional and social communities to participate in organizations where we can make a difference. Windmill Capital Management is a proud member of the following industry and community associations:

Industry Organizations:


REIT-LogoNEW (1)
ULI Logo

Environmental / Community Organizations:

MBA Logo
FOR logo 2012 w text

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