Generate Capital, a sustainable infrastructure platform, has closed its latest capital raise with $1.5 billion in new commitments.
The California State Teachers’ Retirement System (CalSTRS) joined other new investors such as HESTA, as well as existing investors including QIC and AustralianSuper, in the financing. This brings the total capital raised by Generate since its inception in 2014 to more than $10 billion.
As of September 2023, Generate helped produce more than 320 gigawatt hours of sustainable power and process more than 715,000 metric tons in organic waste. Since its founding, the company has partnered with more than 50 project development and technology companies, dozens of investors and hundreds of communities to establish a diverse portfolio of thousands of sustainable infrastructure projects around the world.
In 2023, Generate expanded its creative approach to accelerating the transition by entering joint ventures with Blue Bird Corp., to bring e