Partners Group, the global private markets investment manager, has agreed to provide USD 100 million in growth capital to Silicon Ranch Corporation (“Silicon Ranch”), a leading developer, owner and operator of solar energy facilities in the US, on behalf of its clients. The company’s existing investors will also participate in this corporate equity raise, which will support Silicon Ranch in building out its substantial portfolio of growth projects. With this investment, funds managed and/or advised by Partners Group collectively are now Silicon Ranch’s largest shareholder.
Founded in 2011 and headquartered in Nashville, Tennessee, Silicon Ranch is one of the fastest-growing independent solar power producers in the US. The company currently operates over 100 MWs of commercial- and utility-scale solar projects and developed the first large-scale solar facilities in Tennessee, Georgia, Arkansas and Mississippi. The company has also recently completed its first projects in Colorado and will significantly expand its portfolio across the US in the next few years through both organic growth and acquisitions. Silicon Ranch’s projects benefit from 20- to 30-year power purchase agreements with high-quality utility and corporate off-takers.
Matt Kisber, CEO of Silicon Ranch Corporation, comments: “We are delighted to welcome Partners Group on board, a partner that shares our vision of providing customized and cost-effective clean energy solutions that reduce the impact of energy generation on the environment. Partners Group’s long track record of investment in the renewable power and energy infrastructure sectors globally will be invaluable in helping us develop our project pipeline and in ensuring the long-term success of our business.”
Todd Bright, Managing Director and Head of Private Infrastructure in the Americas at Partners Group, adds: “We are very excited to be supporting Silicon Ranch’s continued growth. We were attracted to the company’s proven management team, strong founder and investor group, and differentiated market approach. Silicon Ranch is already well established but is also perfectly positioned to continue to capitalize on the growing US solar opportunity set. We will work closelywith the management team and existing investors to develop new solar projects, enter new markets and identify potential acquisition opportunities.”
Partners Group is an experienced investor in the renewable power, conventional power and energy infrastructure sectors globally, with Silicon Ranch being the firm’s second solar platform investment in the last two years. In 2014, Partners Group invested in Japan Solar, a solar platform established to build utility-scale solar power plants across Japan, on behalf of its clients and in partnership with Equis Funds Group and other investors. In addition to Japan Solar, Partners Group has made three other solar sector investments globally since 2010 on behalf of its clients.
About Partners Group
Partners Group is a global private markets investment management firm with over EUR 46 billion (USD 50 billion) in investment programs under management in private equity, private real estate, private infrastructure and private debt. The firm manages a broad range of customized portfolios for an international clientele of institutional investors. Partners Group is headquartered in Zug, Switzerland, and has offices in San Francisco, Houston, New York, São Paulo, London, Guernsey, Paris, Luxembourg, Milan, Munich, Dubai, Mumbai, Singapore, Shanghai, Seoul, Tokyo and Sydney. The firm employs over 800 people and is listed on the SIX Swiss Exchange (symbol: PGHN) with a major ownership by its partners and employees.
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