Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Capital on the Frontier Measure Better Investing in Racial Equity Beyond Trade-offs Impact en las Americas New Revivalists
Local and Inclusive Climate Finance Catalytic Capital Frontier Finance Best Practices Geographies
Slack Agent of Impact Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Locavesting Entrepreneurship Gender Smart Return on Inclusion Good Jobs Creative economy Opportunity Zones Investing in place Housing New Schooled Well Being People on the Move Faith and investing Inclusive Fintech
Clean Energy Farmer Finance Soil Wealth Conservation Finance Financing Fish
Innovative Finance
Personal Finance Impact Management
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States
Subscribe Log In

Goldman Sachs raises nearly $2 billion for solar yieldco

Goldman Sachs’s asset management arm closed on $1.9 billion in equity commitments for its Goldman Sachs Renewable Power LLC, a private renewable energy investment company that buys or leases power and sells it under long term contracts—also known as a yieldco for its lucrative recurring dividends. Additional debt funding will bring its total arsenal to $4 billion.

Since it was formed in 2016, the unit has invested over $1.4 billion to assemble 1 gigawatt of distributed solar assets. That’s helped it become one of the largest owners of distributed generation solar assets in the U.S.—and add a stable, revenue stream to Goldman’s business. In March, it leased $86.9 million in commercial solar project leases from SunPower. Last year, it acquired SunTap, with nearly 200MW worth of projects in California and Arizona, from KKR & Co, among other investments.

Yieldcos fell out of favor after the implosion of SunEdison in 2016. Yet they have been staging a comeback, buoyed by demand for solar as well as yeildco structures with more rigorous governance.

You might also like...