Ares Management invests up to US$600m in SB Energy

Facebook
Twitter
LinkedIn
Reddit
Email
SB Energy has received more than US$4 billion in tax equity and project financing since its creation. Image: SB Energy.

Private equity firm Ares Management is leading an equity investment of up to US$600 million in SB Energy, the SoftBank-owned solar developer.

This newest partnership with Ares will add to the already more than US$4 billion in tax equity and project financing SB Energy has received since its creation in order to bolster its portfolio of renewable and energy storage projects around the world.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Michel Combes, CEO of SoftBank Group International, said: “Our new investment from Ares brings together Ares’ climate infrastructure experience, SoftBank’s AI and technology ecosystem, and SB Energy’s track record of execution into a single platform to deliver flexible renewable energy at scale.”

SB Energy aims to build a portfolio of 10GW of renewable energy and storage projects in operation or under construction by the end of 2025.

Since it entered the US market in 2019, SB Energy has worked on 1.7GW of utility-scale solar projects, with the majority (1.3GW) in Texas and California.

Rich Hossfeld, SB Energy co-CEO, said the support of Ares and SoftBank will help scale up its strategic platform in developing new renewable and storage projects.

Last week, SB Energy signed a deal with First Solar for 1.5GW of thin-film PV modules to be deployed across several plants in the US.

In recent years, Ares Management has invested in the solar sector with the acquisitions of a majority stake in Conti Solar in 2018 and Apex Clean Energy last October, as well as investing US$200 million in DSD Renewables last week.

8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.
17 June 2025
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 17-18 June 2025, will be our fourth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2026 and beyond.

Read Next

January 31, 2024
Several US senators have urged the Biden Administration to increase tariffs on Chinese-made PV module, cell and wafer imports, claiming they are a threat to US solar manufacturing.
Premium
January 19, 2024
CALSSA executive director Bernadette Del Chiaro says a downward trend will be the best description of the California market this year without government intervention.
January 18, 2024
The updated Western Solar Plan would streamline the Bureau of Land Management’s (BLM) framework for siting solar energy projects.
January 12, 2024
US renewables company Intersect Power has started commercial operations of a 828MWp/640MWac solar project in the US state of Texas.
January 10, 2024
Solar irradiance in Southeast Asia last year was 10% higher than long-term averages - the best-performing region across the globe - according to Solargis.
Premium
January 5, 2024
“The formation of Solar Powers Illinois stems from the passage of critical legislation: the Climate and Equitable Jobs Act and the Inflation Reduction Act.”

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 4, 2024
London, UK
Upcoming Webinars
June 11, 2024
3:00 PM (BST) / 4:00 PM (CEST)
Solar Media Events
July 2, 2024
Athens, Greece
Solar Media Events
July 9, 2024
Sands Expo and Convention Centre, Singapore