Green infra investor Generate closes USD-2bn equity raise
A Generate community solar project in Sullivan County, New York. (Photo: Business Wire)
July 20 (Renewables Now) - Sustainable infrastructure company Generate Capital Inc announced on Monday that it has raised USD 2 billion (EUR 1.7bn) in corporate equity from both new and existing investors.
Founded in 2014, Generate is engaged in the construction, financing, ownership and operation of projects in clean energy, water, waste and transportation. It said in a statement that the new equity infusion will make it “one of the most well-capitalized sustainability-focused enterprises in the world.” Also, it will allow the firm to further expand its reach into new sectors and regions.
Currently, Generate’s asset base includes renewable power, community solar, energy efficiency, microgrids, energy storage, electric mobility, hydrogen, wastewater and waste management. The company recently launched a dedicated credit business to offer flexible financing solutions to technology companies and project developers.
The fundraising round was led by current investors AustralianSuper and QIC and included contributions from new ones such as Harbert Management Corporation, Aware Super and CBRE Caledon.