CleanCapital has announced a partnership with Generate Capital that will enable the acquisition of approximately $300 million of operating clean energy assets, namely distributed solar projects, across the U.S.
The partners say the transaction harnesses Generate Capital’s track record of backing approaches to financing clean energy infrastructure solutions, and the new relationship brings liquidity to the distributed solar market and provides project owners access to permanent, flexible capital and exit opportunities in what the partners consider an otherwise limited market.
The warehouse facility has the capacity to acquire $300 million in operating clean energy projects with a near-term focus on distributed solar. It provides CleanCapital the flexibility to acquire assets while also offering investment opportunities through its investment platform and alongside a trusted industry partner, Generate Capital.
“Distributed energy resources are a critical component of the future electric grid, but to date, the investment opportunities have been limited. CleanCapital’s streamlined approach is attractive, as it facilitates access to safe and secure opportunities to invest in these low-risk, cash-flowing assets,” says Jigar Shah, president of Generate Capital. “After financing billions in innovative infrastructure, my co-founders and I created Generate’s novel model to fill a funding gap and advance the proven solutions required to build a resource-efficient economy. We’re pleased to partner with CleanCapital and its investors to bring a trusted, robust solution to this historically illiquid sector.”
“CleanCapital is committed to attracting more investors to the space by providing a simple, understandable way to invest in clean energy – ultimately facilitating access to the billions of dollars of untapped capital sources that have been searching for opportunities in this sector,” adds Thomas Byrne, co-founder and CEO of CleanCapital. “Partnering with Generate Capital, one of the most forward-thinking clean energy capital providers, gives us the resources and experience to accelerate that goal.”