Magnetar Capital secures 3GW US solar pipeline through Lendlease deal

November 17, 2020
Facebook
Twitter
LinkedIn
Reddit
Email
Image: IRENA.

A US development pipeline consisting of 3GW solar and 2.5GWh of energy storage has changed hands as asset manager Magnetar Capital acquires the renewable energy business of Lendlease.

Founded by the property and investment group in 2015, the purchased green energy unit has commercialised more than 680MW of US solar facilities to date and has a pipeline of 20 projects. Its current customers include municipalities, higher education institutions, corporations and integrated electric utilities.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The business, which has now been renamed Vesper Energy, plans to begin construction on three new PV projects next year in California, Ohio and Pennsylvania.

Vesper Energy CEO Craig Carson said the company has the team, assets and partnerships in place “to be a leader in North America's transformation to a clean energy future”.

Adam Daley, co-head of Energy and Infrastructure at Magnetar, said the investment complements the firm’s existing solar portfolio companies and “reflects our continued commitment to providing growth capital to businesses actively reducing carbon emissions”.

Over the last 15 years, Magnetar's Energy and Infrastructure Group has committed over US$6 billion across more than 60 private energy, infrastructure and renewables investments in North America. A portfolio of Magnetar’s UK solar assets in excess of 300MW was sold in 2017 to Rockfire Capital.

16 June 2026
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth 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 2027 and beyond.

Read Next

October 28, 2025
GreenYellow plans to invest US$116 million in Poland over the next three years to expand its installed capacity and customer base.
October 27, 2025
Engie has signed additional PPAs with Meta, expanding their partnership to more than 1.3GW across four solar projects in Texas.
October 27, 2025
Waaree Energies has secured four solar module supply contracts totalling 692MW – three for projects in India and one in the US through its subsidiary.
October 27, 2025
US solar technology company Swift Solar has deployed perovskite solar technology as part of a Department of Defence cyber warfare exercise in the state of Virginia.
October 23, 2025
US solar manufacturer T1 Energy sold approximately 725MW of solar modules in Q3 2025, as it continues to expand US manufacturing capabilities.
October 23, 2025
Aviva Investors and Astatine have announced an €800 million (US$928 million) investment in renewable energy and decarbonisation solutions.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
November 12, 2025
10am PST / 1pm EST
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany