8minutenergy announced JV and over $200 million in capital to execute 10.7 GW pipeline
Post date: 12/12/2018 - 12:44
8minutenergy Renewables, LLC, US independent solar and storage developer, J.P. Morgan Asset Management, and an affiliate of Upper Bay Infrastructure Partners have entered into a joint venture to provide equity capital to support 8minutenergy’s 10.7 GW pipeline of utility solar plus storage projects. The joint venture, along with investment from 8minutenergy CEO, Tom Buttgenbach, provides over $200 million in capital commitments. Scotia Bank and Bank of America Merrill Lynch were the lead financial advisors to the joint venture transaction.
As reported, 8minutenergy is wholly owned by Tom Buttgenbach and its management team as of December 6, 2018. Buttgenbach, who co-founded 8minutenergy in 2009, is President and CEO. 8minutenergy also announced that Alex O’Cinneide, founder and CEO of Gore Street Capital, will rejoin the Company’s Advisory Board.