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.
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