Nexamp Raises $520M in Capital to Power Renewables Growth

Nexamp has secured $520 million in a capital raise led by Manulife Investment Management, alongside existing investors Diamond Generating Corp. and Generate Capital. 

The company will leverage the investment to expedite deployment of its national project pipeline, accelerate expansion and developer partnerships in new and existing markets, and fuel the continued growth of its generation and consumer-driven offerings.     

“This landmark financing comes at a pivotal moment in the evolution of America’s energy economy, and underscores the indispensable role of community solar in democratizing access to clean, affordable energy solutions for every American,” says Nexamp CEO Zaid Ashai. 

“This unprecedented investment reflects swelling confidence in the ability of independent renewable energy providers to reimagine outmoded infrastructure and reshape our grid. Nexamp is committed to deep collaboration with communities across the nation in building a more sustainable future for us all.”

BofA Securities served as exclusive placement agent to Nexamp.