Renewable Energy Industry Veterans Launch Generate Capital
On December 4, 2014, a team of longtime renewable and finance industry executives announced the launch of Generate Capital, a specialty finance company focused on funding small-scale, resource-efficient infrastructure. Wilson Sonsini Goodrich & Rosati advised Generate Capital in connection with its launch and is providing ongoing corporate counsel to the San Francisco-based company.
Generate Capital offers multiple types of financial services products, including short-term asset-based financing, equipment leasing, and small-scale project finance. Typical projects will range from $2 million and $20 million in size, primarily in areas such as commercial-scale renewable energy generation, heating equipment retrofits, energy storage projects, urban farms, and wastewater treatment technologies. The company believes it has assembled one of the largest pools of capital available for these types of projects and already is underwriting projects in the renewable energy, energy storage, and energy efficiency sectors.
Generate Capital's co-founders include President Jigar Shah, the founding CEO of SunEdison and the Carbon War Room; CEO Scott Jacobs, a co-founder of McKinsey & Company's global CleanTech practice and co-founder of resource-focused investment firm EFW Partners; and Chief Investment Officer Matan Friedman, a former venture capitalist and the co-founder and managing partner of Resource Efficiency Finance. The founders have financed more than $1 billion in sustainable infrastructure and technology-related transactions over the last decade.
For more information, please see Generate Capital's press release.