Silicon Ranch secures USD 775m in equity financing to pursue growth
- Silicon Ranch Corporation, an independent sustainable power manufacturer in the United States that is backed by Royal Dutch Shell plc (AMS: RDSA), introduced today it has raised USD 775 million (EUR 685m) in new equity capital.
The round was led by Toronto-based Manulife Financial Investment Management, on behalf of Manulife Infrastructure Fund II as well as John Hancock, with a dedication of concerning USD 400 million. Existing investors such as Shell, TD Greystone Infrastructure Fund (Global Master) LP and Mountain Group Partners also took part.
The transaction is seen to involve the present quarter upon receiving the required governing nods. It adheres to a USD-225-million capital raising in December 2020.
The business said it will certainly use the fresh profits to continue the execution of its service plan, consisting of the construction of gotten facilities and the development of brand-new projects, setting foot in brand-new markets as well as pursuing calculated acquisition chances.
Nashville-based Silicon Ranch is a provider of personalized renewable energy, carbon and also battery storage space solutions for a selection of companions throughout The United States and Canada. The firm's portfolio consists of over 4 GW of solar and also power storage space plants that are currently functional, acquired, or unfinished in the United States and also Canada.
Silicon Ranch's initial large-scale solar projects were established in Tennessee, Georgia, Mississippi, Arkansas and Kentucky. Presently, the business has, runs as well as keeps over 150 solar plants in 15 states from New york city to California.
