Magnetar Capital acquires 3 GW solar and 2.5 GWh battery pipeline
Post date: 18/11/2020 - 10:37
Asset manager Magnetar Capital announced its acquisition of international property and investment group Lendlease’s renewable energy business unit. The acquired entity will operate under the new name »Vesper Energy«. Since its start in 2015, Vesper Energy has commercialized over 680 MW of utility-scale solar projects in the U.S.
The company has an existing 3 GW solar and 2.5 GWh energy storage development pipeline, encompassing 20 unique projects. Vesper Energy plans to begin construction on three new projects in 2021 in California, Ohio and Pennsylvania.
Founded in 2005, Magnetar has approximately $12.1 billion in assets under management. Magnetar’s Energy and Infrastructure Group has invested in the North American energy and infrastructure sector for over 15 years and has committed over $6 billion across more than 60 private energy, infrastructure and renewables investments.