Generate Capital secures US$2bn to invest in sustainable infrastructure

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
A community solar project from Generate in New York State. Image: Generate Capital.

Sustainable infrastructure investment firm Generate Capital has raised US$2 billion in funding to scale its support for sectors such as clean energy.

The San Francisco-based company builds, owns, operates and finances sustainable infrastructure, and in the last seven years has accumulated a portfolio of about US$2 billion of assets across the energy, waste, water and transport markets. The new equity will allow it to expand its reach into new sectors and regions.

The capital raise was led by pension fund AustralianSuper and Australian investment firm QIC, while existing investors in Generate such as AP2 of Sweden, Railways Pension of the UK and the Wellcome Trust also participated. New investors included Harbert Management Corporation, Aware Super and CBRE Caledon.

Describing itself as one-stop shop for companies and communities looking to meet their net zero goals with new infrastructure, Generate said its infrastructure-as-a-service model means its customers don’t need to make large capital commitments to meet their sustainability goals.

Generate’s asset base includes renewable power, community solar, energy efficiency, microgrids, energy storage, electric mobility and hydrogen. The firm earlier this year provided a debt facility to utility-scale renewables project developer Intersect Power.

To meet the growing opportunity in sustainable infrastructure, Generate has doubled its workforce in the past year and a geographic expansion beyond North America is now underway.

Scott Jacobs, chief executive and co-founder of Generate, said the funding will enable the firm’s next phase of growth, adding: “The urgent need to deploy proven climate solutions and get the world to a net zero pathway has never been greater.”

Read Next

July 29, 2021
US residential solar installer Sunnova said it was investing in its end-to-end solar services to cater for customers demanding more from their rooftop installations.
July 28, 2021
Enphase Energy shipped fewer microinverters in Q2 2021 than in the preceding quarter as supply constraints continued to bite, but the manufacturer still managed to boost revenue sequentially.
July 27, 2021
Tesla reported retrofit solar installations of 85MW in Q2 2021, cementing its recovery from a worst-ever performance in the corresponding period last year.
July 26, 2021
A solar-wind-energy storage hybrid project is to power a Madagascan mine after Rio Tinto signed a power purchase agreement with independent power producer CrossBoundary Energy.
July 21, 2021
Singapore-based solar developer Sunseap Group has secured a contract to build what it says will be the world’s largest floating PV project on the Indonesian island of Batam.
July 21, 2021
At least 455GW of new solar PV capacity will need to be installed each year by the end of this decade for the world to reach net zero status by 2050, new analysis by BloombergNEF (BNEF) has found.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
August 19, 2021
At 9am (PT) | 6pm (CEST)
Solar Media Events
August 25, 2021
Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK