Silicon Ranch Corporation, a U.S. developer, owner, and operator of solar energy plants, has closed on an equity investment round that raised in excess of USD 55 million.
Partners Group led the investment round with a USD 40 million commitment on behalf of its clients. Partners Group was joined by other Silicon Ranch shareholders, including the Greystone Infrastructure Fund managed by Greystone Managed Investments.
Nashville-based Silicon Ranch is a full-service renewable energy provider that develops to own all of its projects for the long-term.
The company works with a diverse set of customers, including utilities, military and defense facilities, small to large industrial facilities, and commercial businesses.
In closing this latest equity raise, Silicon Ranch attracted more than USD 165 million of new equity capital during the course of 2016.
In April, the company announced a USD 100 million equity commitment from Partners Group on behalf of its clients, a platform investment that aligned the Swiss-headquartered firm with one of the fastest-growing independent power producers in the U.S.
The scale of that investment supported a growth strategy that saw Silicon Ranch more than double its operating capacity for a second straight year. In addition to constructing more than a dozen new solar plants during 2016, Silicon Ranch added significantly to its pipeline through contracts with new and existing customers across the country.
Reagan Farr, vice chairman and chief financial officer of Silicon Ranch, said, “By any measure 2016 truly was a watershed year in our company’s history. Every unit of our organization worked toward a common vision to achieve tremendous growth, and this significant investment by our shareholders allows us to accelerate this momentum in 2017.”
Rajani Baburajan