Community solar developer Nexamp secures $680 million in debt and equity financing

ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, August 19 — The Boston, Mass.-based company, led by a pair of U.S. Army veterans, develops and manages solar-energy storage for approximately 40,000 customers in 10 U.S. states.

Walmart, for example, is subscribing to 23 of Nexamp’s community solar farms in New York “to play a direct role in spurring economic development in the communities we serve” and “spark collective climate action,” said Walmart’s Mark Vanderhelm.

For consumers, Nexamp offers discounts on clean energy services without a credit check or long-term commitment.

Solar financing

Nexamp raised $240 million from Generate Capital. The equity financing follows $440 million in debt funding the company secured earlier this year.

Generate’s Scott Jacobs said Nexamp is “speeding up the democratization of energy – a critical piece in the urgent climate solutions puzzle.”