The equity capital will help Silicon Ranch to speed up its growth strategy by foraying into new markets, and developing new projects
The equity raised will support construction of over 1GW of new solar projects over the next two years. (Credit: PRNewsfoto/Silicon Ranch Corporation)
Silicon Ranch, the US solar platform of Shell, has raised $225m in new equity capital through an investment round.
Silicon Ranch’s existing shareholders completely funded the round.
The shareholders included Shell and institutional investors TD Greystone Infrastructure Fund, which is managed by TD Asset Management, and Mountain Group Partners.
Based in Nashville, Silicon Ranch is a fully integrated provider of renewable energy and storage solutions.
Its portfolio includes over 2.5GW of PV systems, which are either under construction, have been contracted, or operational, in over 15 US states.
The equity raised will support the construction of over 1GW of new solar projects over the next two years.
It will enable Silicon Ranch to speed up its growth strategy by foraying into new markets, developing new projects, and seeking opportunities for strategic acquisitions.
Silicon Ranch CEO and co-founder Reagan Farr said: “A decade ago, we launched Silicon Ranch based on our shared faith in a certain set of values, and since day one, our talented team has helped us earn our reputation as a pioneering, innovative, and principled industry leader.
“Silicon Ranch is honoured by this strong support from our shareholders, whose commitment today will help fuel our growth and enable us to make meaningful capital investments in communities across the country.”