S&P: CleanCapital lands $300M Manulife investment for energy-transition spending
Renewable energy investor CleanCapital LLC said April 20 that it is using $300 million in new funding from Manulife Investment Management to buy up more mid-sized solar plants and to begin developing projects in a part of the U.S. market that historically has been difficult for big investors to access.
Money is flooding into the renewable energy sector as companies and governments set targets to eliminate greenhouse gas emissions and swelling enthusiasm for environmental, social and governance investing drives financiers to allocate more capital to "green" infrastructure. According to consultancy Mercom Capital Group LLC, the solar market drew in $8.1 billion in corporate funding during the first three months of the year, a 21% increase from the prior quarter.