MN8 Energy to acquire Greenbacker for up to $375 million
The Ridgewood-backed combination would create a renewable power platform with more than 6 gigawatts across 33 states.
Takeaways
- MN8 agreed to acquire Greenbacker for up to approximately $375 million.
- The combined renewable power platform would have more than 6 gigawatts across 33 states.
- The transaction is expected to close in the fourth quarter of 2026.
Ridgewood Infrastructure-backed MN8 Energy agreed to acquire Greenbacker Renewable Energy Company in a cash-and-equity transaction valued at up to $375 million.
MN8 develops, owns and operates renewable power assets for enterprise customers, while Greenbacker owns about 1.9 gigawatts of operating and under-construction renewable capacity.
The combined company would have more than 6 gigawatts across 33 states, adding wind generation to MN8's solar, battery-storage and distributed-generation portfolio.
Greenbacker shareholders may elect cash, MN8 equity or a combination, subject to proration.
The transaction is expected to close in the fourth quarter, pending shareholder, member and regulatory approvals.
Get tomorrow morning's tape in your inbox.
Yesterday's platforms, add-ons, recaps, and exits, cleaned up before the workday starts.