Accelerate Real Asset Management, a growth-oriented real asset platform, has launched a new joint venture (JV) to invest in renewable energy infrastructure: Activate Renewables will acquire real estate and royalty interests associated with utility-scale solar, wind and energy storage facilities located across the U.S.
Activate will focus on the acquisition of real property interests directly from landowners and will also provide capital solutions for developers looking for a differentiated and low-cost source of financing. Activate says it holds a flexible mandate to invest across the life cycle of high-quality renewable energy projects and portfolios.
“We are excited to expand our successful investing blueprint into powering the new economy,” says Brennan Potts, CEO of Accelerate. “Activate is well-positioned to deliver differentiated results and we are confident in our ability to offer an attractive cost of capital to landowners and renewable energy developers.”
Activate Renewables will execute a multi-year business plan to aggregate its target acquisitions into a diversified, cash-flowing portfolio of scale. The JV will be supported by Accelerate Real Asset Management, which will manage and execute the business plan. Activate will leverage Accelerate’s track record of aggregating financial-oriented real assets through its proprietary process and technology. Potts will continue serving as CEO of Accelerate and its other business lines.
Activate will be funded by an initial capital commitment of $500 million through a JV with an undisclosed institutional investor. Additional details of the transaction are not disclosed.
Photo: Activate Renewables’ landing page