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    8minute Solar Energy Raises USD400 Million in Private Financing


    January 20, 2022 - Marketline - Deals

     

      Deal In Brief

      8minute Solar Energy, a clean energy company, has raised USD400 million in private financing. The financing was provided by EIG Global Energy Partners LLC, a institutional investor in the global energy and infrastructure sectors. The financing agreement includes a portion of growth equity and a letter of credit

      This strategic fundraise will help 8minute continue to operate and grow its attractive portfolio of clean energy assets, which includes more than 18 GW of solar capacity and 24 GWh of storage throughout California, Texas, and the southwestern United States, enough energy to provide power for 20 million people. Importantly, this investment will enable 8minute to focus on technology innovation and advanced solar plant design, and to begin building projects on its own balance sheet.

      Deal Value (US$ Million) 400
      Deal Type Private Equity
      Sub-Category DIRECT INVESTMENT
      Deal Status Completed: 2022-01-19

      Deal Participants

      Target (Company) 8minutenergy Renewables LLC

      Deal Rationale

      The company intends to use the proceeds to operate and grow its attractive portfolio of clean energy assets.

      (Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Marketline shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon.)

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