Nashville-based Silicon Ranch Corp., one of the largest independent power producers in the United States, has raised $775 million in new equity capital.
Manulife Investment Management led the fundraising round on behalf of Manulife Infrastructure Fund II and John Hancock, with a $400 million commitment. Manulife was joined by existing Silicon Ranch shareholders Shell, TD Greystone Infrastructure Fund and Mountain Group Partners.
Silicon Ranch is a fully integrated provider of customized renewable energy, carbon and battery-storage solutions for a diverse set of partners across North America. The company’s portfolio includes more than 4 gigawatts of solar and battery storage systems that are contracted, under construction or operating across the United States and Canada.
The equity raise will support continued execution of Silicon Ranch's disciplined business plan by developing new projects, entering new markets and pursuing strategic acquisition opportunities.