Silicon Ranch, a solar energy company, has announced a $600m capital raising.

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11:52 | 11 January 2023

Silicon Ranch, a solar energy company, has announced a $600m capital raising.

Renewable energy supply and storage pioneer Silicon Ranch has announced its intention to raise $600m in investment. The first part of the $375m financing was completed last December, with a further $225m expected to be raised early this year.

The funding received in December was led by existing investors, including Manulife Investment Management; TD Asset Management Inc. on behalf of TD Greystone Infrastructure Fund; and Mountain Group partners.

According to Crunchbase, Silicon Ranch, founded in 2011, as of 5 January 2023, had raised more than eight funding rounds, raising a total of $1.6 billion.

Overall, the company is one of the largest independent power producers in the US and Canada and has an impeccable track record of delivering projects, having successfully commissioned every project it has contracted in its history.

The company’s current operating portfolio consists of more than 150 photovoltaic plants in 15 American states. It is also worth noting that Silicon Ranch set a record last year, with its total contracted portfolio reaching 5 gigawatts of generating capacity.

The company’s customers are mainly utilities, private, commercial, industrial, military and defence companies.

Because solar power produces no emissions and does not need to consume water, its use is not only environmentally beneficial but also cost-effective for all industry in all sectors of the world’s economy.

#SiliconRanch #SolarEnergy #VC #News

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