Generate Capital, the renewable energy infrastructure investor, has announced its new funding worth of $ 1 billion in order to expand its renewable energy infrastructure solutions through a new project. Railways Pension, QIC and AustralianSuper have participated in the new round as this group of investors focuses on infrastructure, among others.
With the new funding announcement, Generate Capital has also declared that the company has signed Lynn Jurich and Richard Kauffman as apart of their team of Board of Directors. Lynn is currently serving as, the Co-founder and CEO of Sunrun, a US-based residential solar electricity solutions provider, while Richard is the former Chairman of New York State Energy Research and Development Authority.
According to Generate Capital, the new round will be used to develop projects for sustainable infrastructure. The company also disclosed that it serves several communities including School districts, Universities, Non-profit organizations, and more than 400 companies across North America. Generate Capital has mentioned in a statement that it had built above $1 billion in sustainable projects of different industries including transportation, energy, water and waste, in the last five years.
Scott Jacobs, the Co-founder and CEO of Generate Capital states, “At Generate, we are working with the leading pioneers to bring about an infrastructure revolution, one that is democratized, digitized, decentralized and decarbonized.” He further included, “This transition requires an entirely different type of company committed to rebuilding the world: one that is mission-aligned with its many stakeholders, can provide flexible, efficient capital solutions to enable more projects to be built and has the expertise and capacity to manage that infrastructure and deliver those resources – forever – to its customers.”
Generate Capital has also signed a partnership deal with project developers for different projects related to energy efficiency, wastewater treatment, vehicle electrification, distributed desalination, fuel cells and organic waste management along with battery storage, commercial, industrial and community solar energy.