Generate Capital raises $1 billion for renewable energy infrastructure development
The floodgates are open once again for capital investing in renewable energy projects and technology.
Generate Capital, the renewable energy infrastructure investor, has raised more than $1 billion for new projects from a group of investors focused on infrastructure — including AustralianSuper, QIC, Railways Pension, among others.
The new financing fuels project development for sustainable infrastructure that serves more than 400 companies, universities, school districts, and non-profits across North America. Over the last five years, Generate has built more than $1 billion in sustainable projects in the energy, waste, water and transportation industries.
Alongside the funding, Generate added former New York State Energy Research and Development Authority chairman, Richard Kauffman, and Lynn Jurich, the co-founder and chief executive of Sunrun to the Generate board of directors.
The investment and project development firm partners with project developers on battery storage, community, commercial and industrial solar energy; energy efficiency, vehicle electrification; fuel cell; wastewater treatment; distributed desalination and organic waste management projects.
“At Generate, we are working with the leading pioneers to bring about an infrastructure revolution, one that is democratized, digitized, decentralized, and decarbonized,” said Scott Jacobs, the co-founder and chief executive of Generate, in a statement. “This transition requires an entirely different type of company committed to rebuilding the world: one that is mission-aligned with its many stakeholders, can provide flexible, efficient capital solutions to enable more projects to be built, and has the expertise and capacity to manage that infrastructure and deliver those resources — forever — to its customers.”