February 4 (Renewables Now) - US clean energy financier Generate on Tuesday announced it had secured more than USD 1 billion (EUR 905.3m) in funding to expand its renewable energy and sustainable infrastructure fleet.
Generate named the AustralianSuper pension fund and Queensland Investment Corporation (QIC), UK’s Railway Pension and Swedish buffer fund AP2 as being among a group of global institutional investors who contributed.
The sustainability-focused investor also announced the appointment of Richard Kauffman, current chairman of the New York State Energy Research and Development Authority (NYSERDA), as the chair of Generate’s board.
At the same time, Lynn Jurich, co-founder and CEO of US residential solar installer Sunrun Inc (NASDAQ:RUN), Derek Chu of AustralianSuper and QIC’s Ross Israel have joined the board as members.
Generate builds, owns, operates and finances infrastructure across renewable energy, mobility, water, waste and agriculture sectors. In the last five years, the San Francisco-based firm has built USD 1 billion worth of sustainable infrastructure assets.
(USD 1.0 = EUR 0.905)