Smart energy investments to optimize our clients' portfolios


Northshore's principals have advised on over $5 billion in transactions in our careers


Through our current and prior portfolio companies we've raised in excess of $50 million in capital


Our energy projects have generated more than $50 million in federal investment tax credits

Northshore has specialized in energy project investment and syndication since 1990, facilitating both renewable energy project investments and often investing along with or beside our clients.

We secured a multi-million dollar commitment for the long term financing of our Hawaii solar fleet. We have facilitated in excess of $20 million in solar projects to date in Hawaii.

250+ projects

We have participated in 500+ wells and multiple midstream facilities across a dozen states and the Gulf of Mexico. We've produced more than 20 BCF of natural gas in Michigan alone since 1989. We work with numerous operators and remain committed to meeting the energy needs in the communities where we produce.

We offer a full suite of business transaction and tax planning advisory services, leveraged with our agility as an energy project developer and boutique financier.

Finance Your Energy Project with

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We're at our best when integrated into client planning processes for major transaction and events.

Whether viewed through the lens of financial performance or environmental sustainability, the best-performing asset is the most efficient one.

For clients that are business owners, targeted energy project investments optimize their financial position and increase their ability to reinvest in their core businesses, and provide an increased level of preparedness for future contingencies.

Case Studies

Nez Perce Tribe

Lapwai, Idaho

3.2 MW

3.2 MW Generation and 2.5 MWh storage sited on NPT reservation

Waste Water Treatment Plant, Community Center, Boys & Girls Club, Tribally-Owned Housing

The federally recognized Nez Perce Tribe (NPT) can trace its history back more than 11,500 years. Since 2021 we've completed numerous projects that serve their commercial needs. Most notable among these is the wastewater treatment plant that includes the first Tesla Megapack ever installed in Idaho.

We also provide power to toother Tribal enterprises including the Clearwater Casino. We have scheduled installation of an additional 1.1 MW of generation designed to serve occupants of tribal-owned housing units. This work is being completed in several phases with final completion expected in Q2 2024. The local installer employs primarily Tribal members for installation.

State of Hawaii Green Infrastructure Authority (HGIA)

State of Hawaii


Residents and businesses with a reduction in electricity cost

Since 2019 HGIA has provided approximately $5 million of senior long-term debt for Northshore projects.

HGIA is an agency of the State of Hawaii and is funded primarily by a surtax on electric ratepayers in the State of Hawaii and program charges incurred by project owners.  HGIA is mandated to primarily finance renewable energy projects in the State giving special attention to projects benefiting low-to-moderate income residents. Since 2019 HGIA has provided approximately $5 million of senior long-term debt for Northshore projects that exceed $12 million in total costs. These projects were built by Hawaii based installers with operations on 4 islands. The projects directly and indirectly benefit Hawaii residents and businesses  providing reduced cost electricity to more than 400 electric customers.

State of Michigan Department of Natural Resources

State of Michigan

1 MW

Capacity at 21 sites on the state’s West side

21 separate projects installed at various State parks in southwest Michigan.

Since 2021, we have provided power services to the State of Michigan’s Department of Natural Resources. The portfolio of solar arrays provides approximately 1 MW of capacity at 21 sites in Western Michigan. Working with the local developer we funded the total cost of approximately $3.2 million with our tax-efficient partners, our own capital and a local bank. From the design stage through construction and commissioning these projects reduce the footprint of tourism in all of the parks in which the systems operate. After completion of the solar array at Holland State Park, Governor Gretchen Whitmer visited the site for a special celebratory event during Holland, MI’s world-famous Tulip Festival in 2022.

Takata Store 

Kapaau, Hawaii

260 kW

Solar generation & 548 kWh storage device

Once operational, the project will supply approximately 90% of the power needed by the store

In 2019 Takata Store Inc., one of the oldest continually operated businesses on the Northern end of the Big Island of Hawaii contracted with a local developer to install a 260 kW solar generation and 548 kWh storage device. In February 2022, Northshore acquired the stalled development project with long-term financing provided by the Hawaii Green Infrastructure Authority. In less than 10 months, working with the installation contractor, the long-delayed project was finally completed through  Phase I in December 2022.  Phase II is scheduled to be completed in Q1 of 2023.  Once operational, the project will supply approximately 90% of the power needed by the store, provide enhanced operating resiliency for the largest grocery supplier in the area while replacing older standby diesel powered generators.

Northshore's primary business unit today is the syndication of solor PV+BESS systems to our tax efficient partners.

The tax credit demands of our existing clients have grown, as consecutive years of solar tax credit monetization have allowed them to reallocate capital from income tax payments to equity investments in their own businesses.

This tax-efficient strategy has improved their free cash flow generation and, paradoxically, resulted in higher income levels and subsequent demand for additional solor project deployments.

Our Management Team

Michael L. Garavaglia

Founder, President, & CEO

As CEO of Northshore Energy, Mr. Garavaglia has been instrumental in developing Northshore’s current asset portfolio.

Mr. Garavaglia has overseen the acquisition of interests in numerous oil and gas projects, solar facilities, waste-to-energy and other energy projects. The company’s latest acquisitions include solar projects in California Hawaii, Idaho and Michigan. Consolidating acquisitions of additional working interests in Northern Michigan’s Antrim gas field have also been made through the cultivation of relationships established more than 25 years ago. He has completed traditional and nontraditional transactions throughout his career including buy-side and sell-side M&A, troubled debt restructurings, recapitalizations, liquidations and acquisitions in bankruptcy. His expertise in tax accounting enables the company to optimize the structure of its transactions for maximum investor return. Mr. Garavaglia is an alumni of the University of Michigan and is a Certified Public Accountant.

Michael C. Garavaglia

Vice President, Finance

As Vice President of Finance, Michael Garavaglia “Junior” brings expertise in energy economics and a passion for cleantech entrepreneurship to the Northshore management team.

Whether valuing hydrocarbon or solar resources, Junior's technical understanding of the energy business and interdisciplinary mindset provides crucial insight and a significant competitive advantage. He has been a member of the International Association for Energy Economics and its United States chapter since 2009. Junior is an alumni of  Michigan State University and Walsh College.  He was a member of the Broad Scholar Program in the Eli Broad College of Business at MSU. He also studied Finance at Walsh College. While at MSU, Junior led a team in the 2012-'13 Michigan Clean Energy Venture Challenge, where his team was one of 70 groups selected to compete out of more than 200 applicants. He joined the company in 2014 and completed numerous reserve studies that enabled the financing of additional working interests in Michigan. 

Chris Panzl

Chief Financial Officer

Chris Panzl brings more than 30 years experience in many facets of financial leadership and management to the Northshore Energy team.

Chris Panzl and Michael L. Garavaglia have worked together continuously for more than 20 years in numerous roles.  They have been co-partners in various energy syndications for more than 15 years and co-founded several enterprises. Chris’ expertise includes but is not limited to knowledge of, and experience in, capital raising with a specialization in EB-5 investments, principally from China and other parts of Asia. Additional skills include tax & audit disciplines, mergers & acquisitions, asset management, financial reporting, forensic accounting and preparation of all financial documents required in securities offering.

Mr. Panzl has served as CFO of VP Energy in Brighton, MI. He also served as CFO of Cyltec, a Tecumseh, MI- based high value power train component manufacturer. While at Cyltec, he orchestrated the acquisition of a complimentary business that added product engineering/development and warranty services to the company’s core capabilities. Panzl was the co-founder of NorthShore Holdings Group and also served as CFO of McLaren Performance Technologies in Livonia, MI. Prior to joining McLaren, Chris held senior management positions for M&I Bank and Uni-boring Company, an automotive powertrain manufacturer. Chris an alumnus of Grand Valley State University