Funding to be used to implement technology roadmap and scale operations to broaden clean energy investingRead More
Financial facility to focus on distributed solar projects
CleanCapital announced today a partnership with Generate Capital that enables the acquisition of approximately $300 million of operating clean energy assets. The transaction harnesses Generate Capital's proven track record of backing innovative approaches to financing clean energy infrastructure solutions. The relationship between these groundbreaking firms brings liquidity to the distributed solar market and provides project owners access to permanent, flexible capital and exit opportunities in an otherwise limited market.
The innovative 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 state-of-the-art innovative 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," said 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."
"To rapidly transition to a clean energy economy, we need broader participation from the investment community and increased opportunity for project owners to successfully exit their existing portfolios. 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," said Thomas Byrne, Co-founder and Chief Executive Officer 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."
CleanCapital delivers technology solutions to all aspects of the transaction process - from lending to capital raising, origination to diligence. The proprietary platform identifies, screens and manages clean energy projects for investors, expanding the clean energy market that until now has been limited to only a handful of institutional investors, banks, private equity firms, and tax equity investors.
CleanCapital is a financial technology company that makes it easy to invest in clean energy. CleanCapital allows accredited investors, including institutional investors, family offices, and investment funds, to invest in secure and diversified clean energy projects. Investors can monitor investments in real-time using our seamless online platform. We were founded in 2015 and are headquartered in New York, NY. Stay up to date on the evolving market of clean energy finance by signing up on our website, following us on Twitter, liking us on Facebook or connecting via LinkedIn.
About Generate Capital, Inc.
Generate Capital is a specialty finance company based in San Francisco, California, founded by leaders in the renewable energy, technology, finance and sustainability sectors. Generate partners with project developers and technology manufacturers globally to finance proven solutions for the Resource Revolution; doing more with less of our critical resources like energy, water, food and materials. For more information on Generate Capital, please visit www.generatecapital.com.
It was not that long ago solar energy developers needed to convince a capital partner there was enough sunshine in New Jersey to power homes. The uncertainty of the market, questions about the reliability of the photovoltaic panels themselves, and unfamiliarity with power purchase agreements caused significant challenges to get new projects financed. Over time, as the right policies began to align, projects were built and the cost of solar panels declined. The risks began to mitigate allowing more capital to enter the market and reduce transaction costs. Cheaper deals meant better prices for the power, better prices meant more deals, and the solar marketplace grew exponentially. Today, solar is competing for a share in the $5 trillion renewable energy market projected for 2030. This changing business landscape leads us to the next phase of solar finance.
Read the rest of the article in North American Clean Energy.
On Monday, October 3 New York Governor Andrew Cuomo announced CleanCapital as one of the 16 finalists for 43North, the world's largest business idea competition. CleanCapital will now compete in front of a panel of expert judges in Buffalo to win 43North's top cash prize of $1 million.
"CleanCapital is excited to bring our innovative business model to Buffalo and introduce 43North to the future of clean energy finance," Jon Powers, Buffalo native and Chairman and Co-Founder of CleanCapital said. "Cleantech and fintech are two rapidly growing industries, and CleanCapital's unique approach merges these two markets while accelerating clean energy deployment and providing great returns for investors."
"43North continues to draw some of the world's best, brightest and most innovative entrepreneurs to Buffalo—helping to remake the city and revitalize Western New York's economy—and the best is yet to come," Governor Cuomo said. "I look forward to the third year of this competition and the additional excitement and momentum it provides to a city that continues to be on the move."
Earlier this summer CleanCapital announced a $21 million deal backed by John Hancock. Just last week they launched the ability for accredited investors to invest in a diversified solar portfolio directly via CleanCapital.com. An award through 43North would allow for an accelerated deployment of their transformational investment platform.
Historically, clean energy finance has been limited to institutional investors, large banks, private equity firms, and tax equity investors. CleanCapital changes that, and allows more people to have access to these lucrative investments. The CleanCapital strategy is about long term investing and maximizing existing cash flowing assets.
CleanCapital's investment platform identifies, screens and manages clean energy projects for investors. The team manages the entire process—from sourcing projects to underwriting and evaluating each project. Once the project is onboarded, CleanCapital actively monitors the investment in real-time and distributes proceeds to investors. By eliminating typical transaction barriers and making capital more accessible, they're accelerating clean energy growth worldwide.
CleanCapital is a financial technology company that makes it easy to invest in clean energy. CleanCapital allows accredited individuals—including institutional investors, family offices, and investment funds—to invest in secure and diversified clean energy projects. Investors can monitor investments in real-time using our seamless online platform. We were founded in 2015 and are headquartered in Washington, DC. Stay up to date on the evolving market of clean energy finance by signing up on our website, following us on Twitter, liking us on Facebook or connecting via LinkedIn.
43North is the $5 million startup competition, awarding cash prizes to some of the best entrepreneurs and startups from around the world. 43North winners also receive free incubator space in Buffalo for one year, guidance from mentors in related fields, and access to other business incentive programs such as START-UP NY. 43North operates through the support of Governor Andrew Cuomo's Buffalo Billion initiative and grants of $6 million from the New York Power Authority and $1 million from Empire State Development. Additional support comes from National Grid and several other sponsors. For a full list of sponsors and more information about 43North, visit www.43north.org.
CleanCapital announced today a first-of-its-kind clean energy financing opportunity. The company closed its first offering in which individual private investors are able to invest directly into a diversified portfolio of solar projects. CleanCapital received funding from John Hancock Life Insurance Company, which invested senior debt into the $21 million portfolio of 14 solar projects in 6 states.Read More