Generate Capital has raised $2 billion in funding for clean energy and infrastructure projects.
The San Francisco-based company says it has raised the funds from various investors including pension funds from Australia, Sweden and the UK. Examples of projects include a partnership with Starbucks to develop community solar projects in New York and work with the public school system of Hillsborough County in Tampa, Florida to reduce its energy needs, carbon footprint and energy bill. The company has also worked with Chinese battery company BYD to provide electric buses for customers such as Stanford University and Facebook.
CEO Scott Jacobs said, “Clients have a variety of goals including infrastructure resilience, a net-zero mandate or just saving money. The infrastructure that customers want and communities need is very different. We call it the four Ds: distributed, decarbonized, digitized and democratized. And that is, in fact, what offers the most compelling value proposition to these customers and communities”.