ESG Today writes that the 500 million USD fund will be used to invest in clean energy assets, such as clean fuels, renewable power and critical minerals. NGP will partner with management teams of energy companies, often times in the early stages of the development, providing them with the capital and support required to build the energy transition platforms.

The target for individual investments is expected to fluctuate between 50 to 150 million USD.

Three platform companies already received investments through NGP's funding, including Segue Renewables II, a company that invests in early-stage projects and the infrastructure they need for the transition. Cloverleaf Infrastructure, which collaborates with US utilities companies and data center operators to help them transition to clean power and carbon removal projects developer CO280 are the other two projects that have received undisclosed investments.