Generate Capital sits at the intersection of clean energy and infrastructure — and on Monday said it raised $2 billion.
Generate Capital raised $2 billion in its latest funding round amid a boom in clean-energy infrastructure projects.
The new capital, which follows a $1 billion raise in February 2020, brings the San Francisco-based company's balance sheet to around $10 billion. Backers include pension funds from Australia, Sweden and the U.K. Jacobs said returns are competitive, and pointed to every funding round being oversubscribed — some by as much as seven times — as evidence that sustainable investing does not have to come at the expense of performance.
Examples of projects include a partnership with Starbucks to develop community solar projects in New York to supply local Starbucks' and the areas around the stores with solar power. Generate also worked with the public school system of Hillsborough County in Tampa, Florida, which wanted to reduce its energy needs, carbon footprint and energy bill.
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