Thomas Byrne
CleanCapital, a clear energy firm primarily based within the U.S. and targeted on center market solar and storage, has obtained a further dedication of as much as $500 million from Toronto-based Manulife Investment Management. The firm will leverage this funding to fund early-stage solar and storage growth and purchase renewable energy property all through the United States, in addition to develop its partnerships in rising markets.
Additionally, CleanCapital has surpassed a significant funding milestone: the cumulative deployment of greater than $1 billion to fund working, new development and early-stage growth solar and storage property.
Already one of many largest business solar asset homeowners within the U.S., CleanCapital continues to guide the clear energy transition by connecting institutional capital to the myriad alternatives accessible within the center market sector.
“Our team’s climate investing capabilities, combined with our rigorous and highly institutionalized process, have earned the trust of the world’s leading institutional investors,” feedback Thomas Byrne, CEO of CleanCapital. “This second infusion of balance sheet capital follows the successful deployment of Manulife Investment Management’s original $300 million investment, announced in 2021. This is our largest raise to date and will enable CleanCapital to play a key role in leading the energy transition to meet our nation’s net-zero emissions targets.”
CleanCapital’s investments comprise a various renewables portfolio of greater than 200 distributed technology initiatives totaling 400 MW and spanning 26 states and one U.S. territory, in addition to company investments in renewable energy challenge builders.
The firm has established profitable partnerships with a number of rising and notable builders by specializing in key relationships and areas of alternative.
Within the final 12 months, CleanCapital has made main strikes within the solar and storage market, most notably in rising and underinvested markets.
“We are delighted to continue our partnership with CleanCapital. Distributed solar and storage is a swiftly growing market, and our commitment to investing in assets that support the global shift towards clean energy and GHG reduction remains steadfast,” says Recep Kendircioglu, world head of infrastructure, Manulife Investment Management.
As a number one investor and owner-operator of solar and storage property, CleanCapital will proceed to construct its portfolio by making use of its veteran experience to buying, growing, establishing and working high-performing initiatives.
Kirkland & Ellis and Baker McKenzie represented CleanCapital and Manulife, respectively, as authorized advisors on this transaction.
