Pristine Sun Receives $250 Million Capital Boost from Private Equity and Family Office Investors
- US renewable energy player Pristine Sun Corporation has announced a $250 million capital commitment from strategic private equity and family office investors to develop renewable energy projects. This will allow the firm to develop, finance, and build up to 5 GW of its solar projects.
What happened?
Pristine Sun Corporation, a US renewable energy player, has announced a $250 million capital commitment from strategic private equity and family office investors to develop renewable energy projects. The commitment will allow the firm to develop, finance, and build up to 5 GW of its solar projects in Texas, California, and Louisiana. The capital commitment is expected to support Pristine Sun on proposed and active renewable-energy projects. According to the official statement of the firm, this will depend on the capital stack structure. (Source: Pristine Sun Corporation)
Why does it matter?
The capital commitment from strategic private equity and family office investors is a major boost for Pristine Sun Corporation. The firm is expected to use the funds to develop, finance, and build up to 5 GW of its solar projects in Texas, California, and Louisiana. This will help the company to explore additional opportunities in the continental America. The commitment will also allow the firm to power hundreds of thousands of homes and businesses with clean energy.
What's next?
Pristine Sun Corporation, headquartered in California, is a renewable energy developer that has been in the business since 1995. The company has built more than 350 solar power plants, which is enough to power tens of thousands of households with clean, renewable, low-cost energy. The firm has developed solar and wind farms totalling over 25 GW, with another 20 GW of projects in the pipeline. Going forward, the company is expected to continue its focus on developing utility-scale renewable energy solar and wind projects.
