Clean-Energy Backer Raises $1 Billion to Finance Green Projects

(Bloomberg) -- Generate Capital Inc., an investor focused on green efforts often ignored by others, raised more than $1 billion for new projects across North America.

Investors include infrastructure funds such as AustralianSuper, QIC, Railways Pension, and AP2, San-Francisco-based Generate said in a statement Tuesday. Terms weren’t disclosed.

“The money will be used to continue building out the same types of infrastructure projects in power, transportation and water-waste management,” Scott Jacobs, co-founder and CEO of Generate said in an interview. Declining technology costs are driving the deployment of new projects, he said.

Generate has supported more than $1 billion on existing projects, with individual costs that can be as little as $500,000. Recent projects include the deployment of a community solar project in New York and fuel-cell-powered forklifts made by Plug Power Inc., whose customers include Walmart Inc.

©2020 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.