Silicon Ranch Corporation has closed on an equity investment round that raised in excess of USD 55 million. Partners Group led the round with a USD 40 million commitment on behalf of its clients. Partners Group was joined in this investment round by other Silicon Ranch shareholders, including the Greystone Infrastructure Fund.
In closing this latest equity raise, Silicon Ranch attracted more than USD 165 million of new equity capital during the course of 2016. The scale of that investment supported a growth strategy that saw Silicon Ranch more than double its operating capacity for a second straight year. In addition to constructing more than a dozen new solar plants during 2016, Silicon Ranch added significantly to its pipeline through contracts with new and existing customers across the country.
Reagan Farr, Vice Chairman and Chief Financial Officer of Silicon Ranch said, "By any measure 2016 truly was a watershed year in our company's history. Every unit of our organization worked toward a common vision to achieve tremendous growth, and this significant investment by our shareholders allows us to accelerate this momentum in 2017."
Todd Bright, Head of Private Infrastructure in the Americas, Partners Group, said, "Since the initial platform investment in April 2016, we have worked closely with Silicon Ranch's excellent management team to facilitate an expansion of its growth plan. The additional investment by Partners Group on behalf of our clients will fund that growth as the company continues to enhance its position as a leader within its peer group in the U.S. solar energy sector."
David Vickerman, Vice Chairman and Chief Corporate Development Officer of Silicon Ranch said, "To have this additional support from our shareholders, including a pair of sophisticated, global investment managers, is a strong signal of their faith in what we are doing at Silicon Ranch. The scale of this investment positions us to build on our success by developing new projects, entering new markets, and actively looking for strategic acquisition opportunities."
Jeff Mouland, Executive Director and Head of Infrastructure Investments, Greystone, said, "Greystone has participated in every Silicon Ranch equity raise since our initial investment in 2014. Greystone's partnership with Silicon Ranch presents our institutional clients with a unique opportunity to partner with a proven, best-in-class developer, owner, and operator of solar energy plants across a variety of markets in the U.S."