MN8 Energy to Acquire Greenbacker Renewable Energy Company LLC, Creating a Top-Tier American Power Platform
Strategic combination creates a national renewable energy platform with a cumulative generating capacity of over 6 GW across 33 states
Combined platform with diversified technology is well positioned to capture the significant, accelerating growth in power demand driven by the rapid expansion of data center build-out, and broader U.S. electrification trends
Combination expected to create a significant shareholder value through delivering scale and efficiencies for the combined platform
MN8 Energy Holdings LLC (MN8), a scaled power platform developing, owning, and operating energy assets for enterprise customers, with over 4.3 GW of operating and under construction renewable capacity across 29 states, and Greenbacker Renewable Energy Company LLC (Greenbacker), an Independent Power Producer (IPP) that owns a ~1.9 GW fleet of operating and under construction renewable energy assets across 22 states, today announced a definitive agreement under which MN8 will acquire Greenbacker in a cash-and-equity transaction valued at up to approximately $375 million, with $350 million payable at closing, plus up to $25 million in potential additional cash payments contingent on the achievement of certain commercial milestones.
