Magnetar Capital secures 3GW United States solar pipe with Lendlease deal

Nov 17, 2020 02:38 PM ET
  • A United States development pipeline containing 3GW solar and also 2.5 GWh of energy storage space has altered hands as asset manager Magnetar Capital acquires the renewable energy company of Lendlease.
Magnetar Capital secures 3GW United States solar pipe with Lendlease deal
Image: IRENA

Founded by the property and also financial investment group in 2015, the acquired environment-friendly energy device has commercialised greater than 680MW of US solar facilities to date as well as has a pipeline of 20 projects. Its present clients include communities, higher education institutions, firms and incorporated electric utilities.

Business, which has actually currently been relabelled Vesper Energy, plans to start building and construction on 3 new PV projects following year in California, Ohio and Pennsylvania.

Vesper Energy CEO Craig Carson said the company has the team, properties and collaborations in position "to be a leader in North America's makeover to a clean energy future".

Adam Daley, co-head of Energy and also Infrastructure at Magnetar, stated the financial investment complements the firm's existing solar portfolio firms as well as "mirrors our ongoing dedication to providing growth funding to organizations actively minimizing carbon discharges".

Over the last 15 years, Magnetar's Energy as well as Infrastructure Group has actually committed over US$ 6 billion throughout greater than 60 personal energy, facilities and renewables financial investments in North America. A profile of Magnetar's UK solar properties in excess of 300MW was marketed in 2017 to Rockfire Capital.