Listen to this article
The renewable energy sector is witnessing significant investments, and Renewa‘s recent capital infusion is a testament to this trend. The company’s mission to advance the transition to renewable energy in the U.S. has gained momentum with a substantial capital boost.
The Investment Breakdown
Renewa, a prominent player in the renewable energy industry, has announced the procurement of $450 million in committed capital. This investment is spearheaded by QIC, a leading institutional investment manager and advisor. The influx of capital is set to propel Renewa’s growth in green energy projects.
Renewa’s Unique Position in the Market
Owning one of the most extensive independent portfolios of land under clean energy projects in the U.S., Renewa offers specialized financial solutions to landowners and renewable energy project developers. Their services encompass the acquisition of land and associated rental payments from various utility-scale projects, including wind, solar, storage, and other critical infrastructure projects.
The Importance of Land in Renewable Energy
Stephen Lee, Renewa’s Co-Founder and Co-CEO, highlighted the critical role of land in the transition to renewable energy. He emphasized that innovation, financial commitment, policy leadership, and land are essential components in this transition. The backing from QIC is a significant step that will empower Renewa to fulfill its commitments to landowners and project developers.
The Growing Need for Renewable Energy Land
Estimates suggest that over 250 million acres of land will be required to accommodate solar, wind, and energy storage facilities to meet U.S. net-zero commitments. This is a significant increase from the 81 million acres needed just a few years ago. Gage Mooring, Renewa’s Co-Founder and Co-CEO, stressed the company’s pivotal role in accelerating the development of renewable energy assets by offering tangible financial solutions to various stakeholders.
Environmental Impact and Board Appointments
Projects on Renewa’s ground lease assets are projected to reduce carbon dioxide emissions in the U.S. by approximately 5 million tons in 2023. This reduction is equivalent to removing around 1 million passenger cars from U.S. roads. Alongside the funding, QIC has appointed energy industry veterans Mark Noyes, Peter Tumminello, and Natalie Jackson as independent directors for Renewa, bringing a wealth of expertise in the energy sector.
A Glimpse into Renewa’s Portfolio
Renewa boasts land and ground leases under more than 130 renewable energy facilities across the U.S. Their collaborations span over 50 developers, including industry giants like Acciona, Duke Energy, Enel, Leeward Energy, Lightsource bp, and NextEra Energy, spread across 26 states.
Activate Social Media:
