Dealflow | June 15, 2023

Generate ties up with McKinstry to offer ‘energy as a service’ to schools, hospitals and public entities

Amy Cortese and Roodgally Senatus
ImpactAlpha Editor

Amy Cortese

ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, June 15 — Cities are under pressure to decarbonize their buildings. The Viridis Initiative, a joint venture between Generate Capital and McKinstry, will offer “energy-as-a-service” to overcoming budgeting obstacles for schools, hospitals and municipalities.

The initiatives will cover upfront costs for building retrofits, energy systems, wastewater treatment and other sustainable infrastructure, and guarantee cost savings to “unlock economics, decarbonization and resilience at scale for customers and communities,” said Generate’s Scott Jacobs.

“Communities can get the benefits of clean energy and resources without taking the associated financial and operational risks.”