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Bloomberg
CleanCapital, a New York-based renewables investor that manages more than $500 million in assets, is looking to raise up to $500 million in corporate equity to invest in solar and battery-storage projects.
The company is talking to pension funds, insurance companies, sovereign-wealth funds and infrastructure funds focussed on North America that are seeking long-term investments, said CEO Thomas Byrne. It’s retained Javelin Capital as financial adviser.
CleanCapital’s equity raise comes amid a surge in investor interest for renewables, which are capturing a greater share of America’s power supply. Greater dependency on intermittent wind and solar power is also contributing to the emergence of battery storage capable of helping grids when the air is calm and the sun isn’t shining.