Vesper Energy attracts USD-100m investment to grow portfolio
An Engie Solar Project in Texas. Image by Engie North America.
US utility-scale renewable energy assets developer Vesper Energy has secured USD 100 million (EUR 93.1m) in the form of an equity investment to support the growth of its portfolio of solar and energy storage projects.
US alternative asset manager GCM Grosvenor Inc (NASDAQ:GCMG) has committed to investing the amount in the Dallas, Texas-based energy firm over the next 12 months. It will acquire a minority stake in the business and join US hedge fund Magnetar Capital as a fellow shareholder, a statement said on Wednesday.
Vesper Energy has a pipeline of over 55 renewable energy and energy storage projects with a generating capacity of 17 GW across North America. The firm was set up after Magnetar bought the renewable energy business unit of Australian property and infrastructure company Lendlease Group in late 2020.