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Sustainable infrastructure developer, Generate Capital, raises $2B

Since 2014, Generate has built a portfolio of about $2 billion in sustainable infrastructure assets across the energy, waste, water and transport markets

Generate, a sustainable infrastructure company, yesterday announced it has raised $2 billion in corporate equity from institutional investors to accelerate the deployment of sustainable infrastructure. Existing investors AustralianSuper and QIC led the fundraising round with new investment from Harbert Management Corporation, Aware Super, and CBRE Caledon.

Generate said the fundraising tapped many of the world’s largest long-term oriented pension funds and institutional investors from Australia, the U.S., and Europe, including additional commitments from existing investors AP2 of Sweden, Railways Pension of the UK and The Wellcome Trust.

The company, which says it is now the most well-capitalized sustainability-focused enterprises in the world, builds, owns, operates and finances sustainable infrastructure for companies, governments and communities.

Since 2014, Generate has built a portfolio of about $2 billion in sustainable infrastructure assets across the energy, waste, water and transport markets, deploying solutions that redue greenhouse gas emissions and improve resource efficiency, it said in a press release. The company works with more than 40 technology and project development partners, manages more than 2000 assets and has more than 1,000 customers, including companies, universities, school districts, cities and non-profits across North America.

The company attributes part of its success to its Infrastructure-as-a-Service model, which means customers don’t need to make large capital commitments to meet their sustainability goals. Because Generate manages infrastructure assets, customers don’t have to take that financial and operational risk, a key barriers to adoption of decarbonization and resource efficiency solutions.

Generate’s holding company structure allows project developers and technology companies pioneering the Infrastructure Revolution have access to any and all types of financing and help needed to rebuild the world, according to the company. The company recently launched its Generate Credit unit dedicated to creating more credit solutions for green projects and companies, and geographic expansion beyond North America is also underway.

The asset base the company owns, operates and finances includes renewable power, community solar, energy efficiency, microgrids, energy storage, electric mobility, hydrogen, wastewater, and waste management. Generate’s projects create thousands of jobs across communities and the infrastructure assets already on its balance sheet are expected to prevent over 43 million metric tons of CO2e from entering the atmosphere over the course of their operating lives.

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