Generate Capital

What Generate Capital does

Generate Capital, PBC is a privately held sustainable infrastructure investment and operating platform founded in 2014 and headquartered in San Francisco, structured as a Delaware Public Benefit Corporation. The company integrates project development, structured financing, asset ownership, and long-term operations into a single counterparty model, deploying capital across six sectors: power, mobility, waste, green digital infrastructure, water, and agriculture/industrial decarbonization. As of late 2025, Generate has raised more than $14-16 billion cumulatively and manages over $9 billion in assets across credit and equity strategies, operating 2,000+ assets globally including 430+ MW of community solar.

The company's product surface spans credit financing (sustainable infrastructure credit platform with $2.4B+ deployed), tax-equity and structured project finance (community solar, RNG, green steel, data center power), direct asset ownership and operations through subsidiaries (Generate Upcycle for organic waste-to-RNG, esVolta for battery storage), and integrated infrastructure solutions such as the BYOP&C (Bring Your Own Power & Cooling) data center offering developed in partnership with Vertiv. Revenue is generated through four primary streams: credit investment returns (interest on sustainable infrastructure loans), equity investment returns, management fees on third-party institutional capital, and direct asset operations. Pricing is bespoke and deal-by-deal rather than standardized.

Generate's go-to-market is direct institutional and enterprise sales, targeting infrastructure developers seeking capital and operational capabilities, corporate energy consumers pursuing renewable procurement, municipalities and governments deploying clean infrastructure, and mid-to-large infrastructure operators. The customer base is anchored by major institutional LPs — CalSTRS, HESTA, QIC, AustralianSuper — which participated in the $1.5 billion January 2024 equity raise, and by a 14-bank corporate lending syndicate led by J.P. Morgan that provided a $1.2 billion sustainability-linked credit facility in November 2024. In September 2025, founder Scott Jacobs was succeeded as CEO by David Crane, former U.S. Department of Energy Under Secretary for Infrastructure and former CEO of NRG Energy, marking a strategic pivot toward federal-policy-aligned and large-load (data center, hydrogen, industrial decarbonization) infrastructure.

Name

Generate Capital

Legal name

Generate Capital, PBC

Website

https://generatecapital.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

251–500 employees

Short description

Generate Capital is a privately held sustainable infrastructure investment and operating platform that integrates project development, structured financing, asset ownership, and operations across power, mobility, waste, green digital, water, and agriculture/industrial decarbonization sectors, serving developers, corporates, municipalities, and institutional investors with $9B+ AUM.

Ownership category

akta.pro rank

Product category

Sustainable Infrastructure Investment & Development

NAICS

Other Investment Pools and Funds (5259)

SIC

Investors, Nec (6799)

akta.pro primary industry

Environmental & Resource Efficiency Funds (Water, Waste, Recycling, Efficiency) (FSANAEAE)

akta.pro secondary industries

Capital Planning, Portfolio Prioritization & Funding (EUANALAB), Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG), Municipal Finance, Treasury, Budget & Procurement (BPAIACAC), Infrastructure & Project Finance Development Banks (FSABAKAD)

Keywords

• Sustainable infrastructure investing
• Infrastructure asset ownership
• Clean energy project finance
• Renewable energy development
• Community solar financing

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Credit Investment Returns: Interest payments from credit investments in sustainable infrastructure projects
2. Equity Investment Returns: Returns from equity ownership in sustainable infrastructure assets
3. Management Fees: Fees from managing third-party capital for institutional investors
4. Asset Operations: Revenue from owning and operating assets across the portfolio

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Generate Capital is a sustainable infrastructure investment and operating platform that develops, finances, owns, and operates physical infrastructure assets across power, mobility, waste, green digital, water, agriculture, and industrial decarbonization. It offers credit and equity investment products to institutional investors, project financing to infrastructure developers, and integrated operating solutions (community solar, battery storage, organics-to-RNG, green data centers) to corporate and municipal customers, deploying capital across the full lifecycle of sustainable infrastructure.

Product overview

Generate Capital is a multi-strategy sustainable infrastructure investment and operating platform that builds, owns, and operates critical infrastructure assets. The company offers integrated financing, ownership, and operational services across six sectors: power, mobility, waste, green digital, water, and agriculture, and industrial decarbonization. Key products include the Generate Upcycle platform (organic waste RNG), community solar portfolios (430+ MW), BYOP&C data center infrastructure solutions, and sustainable infrastructure credit financing. The platform combines deep investment expertise with hands-on operating capabilities to deliver reliable, affordable, and lower-carbon power solutions to communities, corporations, and data centers.

Differentiator

Problem solved

Functional benefit

Brands

• Generate Upcycle: A renewable natural gas and electricity production platform providing integrated organic waste solutions to public and private partners, with facilities across Canada, the United States, and the United Kingdom.
• Generate NY Community Solar

Products and services

• Generate Upcycle Platform
• Community Solar Portfolio
• BYOP&C (Bring Your Own Power & Cooling)
• Sustainable Infrastructure Credit Platform
• esVolta Battery Storage Platform
• Generate NY Community Solar
• Green Hydrogen Project Financing Program
• Soluna Green Data Center Credit Facility

Quantifiable outcome

• Reduced time-to-operation for sustainable infrastructure projects
• +1 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• VertivcoreStrategic or Co-development Partner · 1 March 2026Strategic collaboration on BYOP&C (Bring Your Own Power & Cooling) for data centers. Joint development of innovative power and cooling solutions for data center infrastructure.
• Better Future FarmsminorStrategic or Co-development Partner · 1 January 2024Hydroponic greenhouse in Louisa County. Development of sustainable agriculture facility.
• McKinstrycoreStrategic or Co-development Partner · 1 June 2023Viridis Initiative for energy-as-a-service. Strategic partnership for energy efficiency and decarbonization solutions.
• esVoltacoreStrategic or Co-development Partner · 1 January 2022Battery storage developer acquisition. Expands capabilities in energy storage sector.
• StormFisher Environmental ServicescoreStrategic or Co-development Partner · 1 January 2022Acquisition expanding organic waste processing capabilities. Strategic acquisition in waste-to-energy sector.

Scale indicators7 records

Recent moves9 records

Expansion highlights6 records

Broad incumbents

• Blackstone Infrastructure Partners: Blackstone Infrastructure is one of the largest private infrastructure platforms and competes with Generate for institutional mandates. Kaitlin Bergan, Generate's Principal of Capital Formation, previously ran BlackRock's Sustainable Client Solutions, Americas.
• IFM Investors Global Infrastructure Fund: IFM Investors runs large global infrastructure funds with pension-fund LPs and invests in energy, digital, and transportation infrastructure. Stephanie Kwong, a Principal at Generate, previously held investment roles at IFM Investors.
• Brookfield Asset Management (Renewable Power & Transition): Brookfield's Renewable Power & Transition group manages tens of billions in sustainable infrastructure assets and competes directly with Generate for institutional capital and renewable project opportunities. Board member Valerie Hannah previously led Brookfield's distributed energy business.
• Macquarie Asset Management (Green Investment Group): Macquarie's Green Investment Group is one of the largest dedicated green infrastructure investors globally, with overlapping focus on solar, storage, and hydrogen. Laxman Ramu, Generate's Managing Director of Investments, joined from Macquarie Asset Management.
• KKR Global Infrastructure: KKR operates a multi-billion-dollar global infrastructure equity and credit platform with thematic exposure to digital infrastructure and the energy transition. KKR's credit platform is a direct comparable to Generate Capital's sustainable infrastructure credit strategy.

Direct peers

• Energy Capital Partners: Energy Capital Partners is a dedicated power and infrastructure private equity firm investing across energy transition and digital infrastructure verticals with a comparable build-own-operate philosophy to Generate Capital.
• Activate Capital: Activate Capital is a growth-stage climate infrastructure investor founded by Raj Atluru, who sits on Generate's board. Both funds target sustainability-focused infrastructure with overlap in renewable power and clean technology investments.
• Capital Dynamics (Clean Energy Infrastructure): Capital Dynamics' Clean Energy Infrastructure fund invests in mid-market renewable power projects and is comparable to Generate's distributed generation, community solar, and credit strategies across the renewable value chain.
• Stonepeak Infrastructure Partners: Stonepeak is a private infrastructure investment firm with overlapping focus on energy transition, transport, digital, and industrial decarbonization, serving a similar institutional LP base with both credit and equity strategies.

Emerging players

• Coalition for Green Capital: CGC builds public green banks and is led by Richard Kauffman, who simultaneously serves as Chair of Generate's Board. CGC and Generate share a public-benefit orientation and complement each other in deploying capital to under-served sustainable infrastructure markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/generatecapital
• Xx.com/GenerateCapital
• Facebookfacebook.com/generatecapital

Revenue estimate

Valuation estimate

Number of profiles

Profiles27 records

Subsidiaries3 records

Funding overview

Funding rounds9 records

Investors13 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments26 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Generate Capital