Raw: [
Distributed solar and energy storage solutions developer and operator Nexamp announced that it has raised […]]
U.S. Community Solar Developer Nexamp Raises $520 Million to Accelerate Deployment – ESG Today
ESG Investing, sustainable finance & business sustainability news
ESG investing news, analysis, research and information
Top Stories ESG News
Companies
Government
Investors
Regulators
Sustainable Finance
ESG Solutions ESG Tools, Services
Companies Companies
Investors Investors
ESG Disclosure ESG Reporting
Analysis
Regulators
Reports, Studies
Newsfeed
Whitepapers
Events
About About us
Our Team
Advertise With Us
Energy Transition/ Private Equity & Venture Capital
U.S. Community Solar Developer Nexamp Raises $520 Million to Accelerate Deployment
Susan Lahey
April 12, 2024
Distributed solar and energy storage solutions developer and operator Nexamp announced that it has raised $520 million, with proceeds from the financing aimed at accelerating its growth as the company expands into new markets and builds renewable energy and storage capacity.
Founded in 2007, Boston-based Nexamp focuses on the deployment and operation of solar energy assets, with capabilities across the solar project life cycle, including project development, design and construction, as well as financing, maintenance and operation. The company currently serves nearly 80,000 customers and maintains a portfolio of over 1.5 gigawatts of generating and in-construction capacity.
In a statement announcing the financing, Nexamp said that the new investment “reflects the immense surge in demand for renewable power across the country” and growing investor appreciation “of the essential need to balance utility-scale infrastructure with reliable distributed power solutions in navigating the clean energy transition,” with community solar emerging as the fastest growing segment in the industry.
Nexamp CEO Zaid Ashai said:
“This landmark financing comes at a pivotal moment in the evolution of America’s energy economy, and underscores the indispensable role of community solar in democratizing access to clean, affordable energy solutions for every American. This unprecedented investment reflects swelling confidence in the ability of independent renewable energy providers to reimagine outmoded infrastructure and reshape our grid.”
Nexamp said that it has several gigawatts of project capacity in development over 20 markets. The company said that the new capital will be used to expedite deployment of its national project pipeline, accelerate expansion and developer partnerships in new and existing markets, and fuel the continued growth of its generation and consumer-driven offerings.
The investment was led by Manulife Investment Management, alongside existing investors Diamond Generating Corporation and Generate Capital.
Pradeep Killamsetty, Managing Director at Manulife Investment Management said:
“We believe in community solar and Nexamp has built an exceptional platform to meet the moment. We are proud to support the Nexamp team in their efforts to further expand their community reach and execute on their growth plans for a cleaner future.”
Susan Lahey
Susan Lahey started her career as a business reporter for The Kansas City Star and has worked as a freelancer covering business, investment, technology, sustainability and science for numerous publications. She has also worked as a writer and editor for publicly funded projects mandating environmental cleanup of a molybdenum mine in Northern New Mexico; and recovery and resiliency measures following Hurricane Maria in Puerto Rico. Recently she worked as Director of Communications for a European wave energy company.
Related Posts
Energy Transition /
Toyota Launches New $150 Million Climate Solutions Venture Fund
Private Equity & Venture Capital /
Preqin Launches New Benchmarks to Assess Private Markets ESG Funds
Energy Transition /
SSAB’s New $5 Billion in Fossil-Free Steel Mill to Eliminate 7% of Sweden’s CO2 Emissions
‹ Preqin Launches New Benchmarks to Assess Private Markets ESG Funds
ESG Today Newsletter – Subscribe
Subscribe to the ESG Today NewsletterJoin our mailing list for the latest breaking ESG investment news!
LevelC-LevelSVP / EVPDirector / VPManager / SupervisorMid or Entry LevelFreelance / ContractStudent / InternRetiredOther
FunctionAccounting & FinanceBusiness Development & SalesCustomer SupportFacilitiesHR & TalentInvestingLegalMarketing & CommunicationsOperationsR & DProcurement & ContractingSupply Chain & DistributionSustainabilityStrategyTechnologyOther
SUBSCRIBE!
You have Successfully Subscribed!
Sustainable Finance
West Virginia Bans HSBC, Citi from Banking Contract over ESG Policies
EY Launches Sustainable Finance Hub to Help Financials Meet New ESG Reporting, Regulatory Requirements
JPMorgan, Citi, RBC Reach Deals with NYC to Disclose New Climate Finance Metric
MUFG Triples 2030 Sustainable Finance Target to $660 Billion on Strong Demand
Government
EU Parliament Adopts Law to Establish Carbon Removal Certification System
West Virginia Bans HSBC, Citi from Banking Contract over ESG Policies
SEC Pauses Climate Disclosure Rules Amidst Legal Challenges
Biden Administration Announces $20 Billion of Awards to Finance Clean Energy Projects in Low-Income Communities
Categories
Select Category
Business Wire
ESG News
Analysis
Climate
Companies
Energy Transition
Environment
ESG Reporting
ESG Tools, Services
Executive Moves
Governance
Government
Guest Posts
Investors
M&A
New funds & products
Platforms & Markets
Private Equity & Venture Capital
Professional bodies
Regulators
Reports, Studies
Social
Social & Governance
Sustainable Finance
Welcome
Back to Top
Home
About us
Disclosure, cookies & privacy policy
© ESG Today 2024
Don’t miss the top ESG stories!Join the ESG Today daily newsletter and get all the top ESG stories, like this one.
Subscribe now below!
LevelC-LevelSVP / EVPDirector / VPManager / SupervisorMid or Entry LevelFreelance / ContractStudent / InternRetiredOther
FunctionAccounting & FinanceBusiness Development & SalesCustomer SupportFacilitiesHR & TalentInvestingLegalMarketing & CommunicationsOperationsProcurement & ContractingR & DStrategySupply Chain & DistributionSustainabilityTechnologyOther
SUBSCRIBE!
You have Successfully Subscribed!
Never miss the latest breaking ESG investment news. Get ESG Today’s newsletter today!
Subscribe Now
c
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.OkPrivacy policy