Terra-Gen

What Terra-Gen does

Terra-Gen is one of the largest independent, integrated utility-scale renewable energy power producers in the United States, founded in 2007 and operating as Terra-Gen, LLC. The company develops, finances, constructs, and operates wind, solar photovoltaic, and battery energy storage system (BESS) projects — often in hybrid solar-plus-storage configurations — across California, Texas, and New York. Its gross operating portfolio comprises approximately 4.2 GW across 32-33 renewable power sites, with a development pipeline of approximately 16 GW and over $25 billion in assets developed or acquired since inception. The company's flagship projects include the 957 MW / 3,315 MWh Edwards Sanborn complex in Kern County, California, and the multi-phase Lockhart solar and storage complex in San Bernardino County.

Terra-Gen generates revenue through long-term 15-20 year power purchase agreements (PPAs) and resource adequacy contracts negotiated directly with investor-owned utilities (e.g., Pacific Gas and Electric, Southern California Edison), community choice aggregators (e.g., Pioneer Community Energy), corporate buyers (e.g., Rio Tinto, Electrify America), and government agencies (e.g., Edwards Air Force Base). Capital is secured through a mix of tax equity, construction/term debt, and equity from its institutional owners — Masdar (50%) and Igneo Infrastructure Partners (50%) — both of which backed the company following the October 2024 acquisition by Masdar from Energy Capital Partners.

The company sells at the wholesale level into U.S. regulated and deregulated power markets (CAISO, ERCOT, NYISO) rather than to residential customers, with go-to-market executed via enterprise field sales. Terra-Gen maintains a vertically integrated operating model covering development, financing, construction, and operations, supported by a 101-250 person organization across headquarters in New York, an engineering/development office in San Diego (La Jolla), and an administration office in Reno. Its leadership transitioned in late 2025 when CFO John O'Connor succeeded founder-CEO Jim Pagano, with SVP of Finance Jeff Cast promoted to CFO.

Name

Terra-Gen

Legal name

Terra-Gen, LLC

Website

https://terra-gen.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

101–250 employees

Short description

Terra-Gen is one of the largest independent, integrated utility-scale renewable energy power producers in the U.S., developing, financing, and operating wind, solar, and battery storage projects serving utilities, corporate buyers, and government agencies under long-term PPAs in California, Texas, and New York.

Ownership category

akta.pro rank

Product category

Utility-Scale Renewable Energy Generation

NAICS

Solar Electric Power Generation (221114), Wind Electric Power Generation (221115), Electric Power Generation (22111)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Solar Project Development & IPP (Utility-Scale & Rooftop) (EUAMABAA)

akta.pro secondary industries

Greenfield Site Origination & Land Acquisition (Leases, Easements, Title) (EUAMAAAA), Commissioning, Testing & Energization Services (Pre-Commissioning, Grid Code Compliance) (EUAMAFAK), Utility-Scale Power Generation Asset Management (EUAEAMAA)

Keywords

• Utility-scale wind power
• Utility-scale solar energy
• Battery energy storage
• Power purchase agreements
• Renewable energy development

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Power Purchase Agreements (PPAs): Terra-Gen generates revenue through long-term power purchase agreements with utilities, community choice aggregators, corporate buyers, and load-serving entities. These contracts provide contracted revenue under multi-decade terms, typically 15-20 years, with pricing that provides inflation-linked cash flows.
2. Resource Adequacy Agreements: Battery storage projects generate revenue through resource adequacy agreements with utilities such as Pacific Gas and Electric Company, providing capacity to the grid under long-term contracts.
3. Project Development and Asset Ownership: The company develops, constructs, and operates renewable energy assets, capturing value through project development margins, asset ownership income, and capital appreciation.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Terra-Gen develops, finances, constructs, owns and operates utility-scale renewable energy power plants across the United States, generating and selling electricity from wind, solar photovoltaic, and battery energy storage projects under long-term power purchase agreements with utilities, corporate buyers, community choice aggregators, and government agencies. The company manages an integrated platform covering greenfield development through commercial operation across approximately 4.2 GW of gross operating capacity at 32+ sites, primarily in California, Texas, and New York.

Product overview

Terra-Gen is one of the largest independent, integrated renewable energy power producers in the United States, operating as an end-to-end project development, financing and operating company. The company offers a unified portfolio of utility-scale renewable energy products across three core technology areas: Wind Energy Projects (including Monte Cristo I at 238.5 MW, Voyager I & II totaling 324.6 MW, and North Country at 365 MW under development), Solar Energy Projects (including the Edwards Sanborn complex at 957 MW across three phases, Lockhart complex at 360 MW across four phases, and Discovery Solar Storage at 1.4 GW under development), and Energy Storage Projects (including Edwards Sanborn storage at 1,066 MW/3,315 MWh, Lockhart co-located storage at 128.7 MW/515 MWh, and Alcazar at 250 MW in New York). Terra-Gen's operating portfolio totals approximately 4.2 GW of wind, solar and battery storage across 32 renewable power sites throughout the U.S., with projects primarily located in California, Texas, and New York. The company develops, constructs, and operates assets under long-term power purchase agreements with utilities, corporate buyers, and load-serving entities.

Differentiator

Problem solved

Functional benefit

Products and services

• Wind Energy Projects Terra-Gen develops, owns and operates utility-scale wind power projects across the United States that deliver clean energy under long-term power purchase agreements to utilities, corporate buyers, and load-serving entities. Active and contracted facilities include Monte Cristo I (238.5 MW, Texas), Voyager I & II (324.6 MW combined, California), and North Country (up to 365 MW, New York, under development).
• Solar Energy Projects Utility-scale solar photovoltaic projects across California (and other markets) delivering clean energy to utilities, community choice aggregators, government agencies, and corporate buyers via long-term PPAs. Major facilities include the Edwards Sanborn complex (957 MW across phases), Lockhart complex (360 MW across four phases), Discovery Solar Storage (up to ~1.4 GW under development), Rex Solaire (~2.8 GW under development), Enterprise Solar Storage (368 MW under construction), and Solar Glow I (75 MW).
• Energy Storage Projects Utility-scale battery energy storage systems (BESS) that capture excess solar and wind generation and dispatch power to the grid during peak demand. Projects provide resource adequacy, grid services, and dispatchable clean energy, including the Edwards Sanborn storage complex (1,066 MW / 3,315 MWh), Lockhart co-located storage (128.7 MW / 515 MWh), standalone ESS at Lockhart (45 MW / 180 MWh), and Alcazar (250 MW under development in New York).
• Edwards Sanborn Solar Storage Complex Hybrid solar + battery storage complex comprising 957 MW of solar capacity and 1,066 MW / 3,315 MWh of energy storage across phases 1A, 1B, and 1C, with 1,400 MW grid interconnection capacity. Supplies carbon-free electricity and supports Edwards Air Force Base.
• Lockhart Solar Complex Multi-phase solar and co-located storage complex in San Bernardino County, California comprising Lockhart I (85 MW), Lockhart II (75 MW), Lockhart III (125 MW, operational 2026), Lockhart IV (80 MW, under construction), co-located battery storage (128.7 MW / 515 MWh), and standalone ESS (45 MW / 180 MWh). Lockhart III financed with $383.3M project financing; solar output contracted under long-term PPAs with corporate buyers and load-serving entities.
• Monte Cristo I Windpower 238.5 MW wind facility in Hidalgo County, Texas that reached commercial operations in November 2025, including a 15-year virtual PPA with Rio Tinto for 78.5 MW serving the Kennecott copper operation in Utah.
• Discovery Solar Storage Utility-scale solar-battery storage project near Mojave, California undertaken by subsidiary Discovery Solar PV and Storage LLC. Will span 7,700 acres across 473 privately-owned parcels with approximately 1.4 GW capacity; received consent from Kern County Board of Supervisors.
• North Country Wind Project Wind project under development in Franklin and Clinton Counties, New York, expected to have capacity of up to 365 MW.
• Alcazar Energy Storage Project 250 MW battery energy storage project located in Ulster County, New York, expected to provide short-duration energy storage capable of serving approximately 250,000 homes at full output.
• Alta Environmental Services Wholly-owned subsidiary providing environmental services focused on California condor protection and wildlife monitoring in Kern County, including geofencing technology-based services offered to other wind energy companies in the Tehachapi region.

Quantifiable outcome

• 4.2 GW of wind, solar, and battery storage capacity operating across the U.S.
• +2 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Four partnerships are on record, tiered minor and core.

• BayWa r.e.minorChannel Partner/ Reseller/ Distributor · 17 April 2026Terra-Gen partnered with BayWa r.e. for solar racking distribution in Canada, expanding distribution reach for project components in the Canadian market.
• LG Energy SolutioncoreTechnology or Integration · 19 March 2026LG Energy Solution will supply Terra-Gen with an 8 GWh energy storage system, marking the biggest deal for its US ESS subsidiary since launch. This supply agreement supports Terra-Gen's battery storage project pipeline with LFP battery technology.
• First SolarcoreTechnology or IntegrationFirst Solar supplies solar photovoltaic modules for Terra-Gen's projects including Lockhart III & IV and Discovery Solar Storage. The company provides U.S.-manufactured thin-film solar panels for utility-scale projects.
• Cupertino ElectriccoreImplementation/ SI/ Consulting PartnerCupertino Electric served as the engineering, procurement, and construction (EPC) contractor for the Lockhart III & IV solar project, responsible for building the 205 MW facility.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Clearway Energy: Yieldco-style US renewable IPP with roughly 7 GW of utility-scale wind, solar, and storage assets under long-term PPAs. Closely comparable to Terra-Gen in technology mix, customer base of large IOUs and corporate offtakers, and contracted cash flow model.
• Pattern Energy: Private US-focused renewable IPP owned by Canada Pension Plan Investment Board, operating utility-scale wind, solar, transmission, and storage across North America. Direct comparable on multi-technology utility-scale IPP model and institutional ownership profile.
• Invenergy: Privately-held US renewable developer and operator with wind, solar, and storage projects across North America. Comparable end-to-end development, financing, and operations platform serving utilities, corporations, and communities.
• NextEra Energy Partners: Yieldco affiliated with NextEra Energy Resources, focused on contracted renewable energy assets including wind, solar, and battery storage in the US. Comparable contracted IPP model with long-term PPAs and infrastructure-style returns.
• Leeward Renewable Energy: Private US renewable energy developer and operator with utility-scale wind, solar, and battery storage assets across the western US. Closely comparable as an institutional-backed independent IPP focused on California and adjacent markets.
• EDF Renewables North America: US subsidiary of EDF Renewables, developing and operating utility-scale wind, solar, and storage projects with corporate and utility PPAs. Comparable integrated developer/IPP business model with California and Texas concentration.
• Avangrid Renewables: US renewable energy subsidiary of Avangrid (Iberdrola group), operating wind, solar, and hydro assets across multiple states. Comparable utility-scale renewable IPP with institutional ownership and long-term PPA structure.

Broad incumbents

• Brookfield Renewable Partners: Publicly-traded global renewable IPP with large US operating portfolio of wind, solar, and storage assets. Comparable contracted cash flow model and institutional ownership, but with much broader global scale and a permanent capital vehicle structure.
• AES Corporation: US-headquartered Fortune 500 global power company with major US renewable and battery storage operations through AES Clean Energy. Comparable utility-scale solar+storage development platform, though AES also operates conventional generation and global utilities.

Emerging players

• Lightsource bp: Global utility-scale solar developer with growing US presence backed by bp. Comparable in solar project development and PPA origination, though more focused on solar PV (less wind/storage) and still building scale in the US market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/TerraGenLLC
• LinkedInlinkedin.com/company/terra-gen-operating-company-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds4 records

Investors7 records

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

M&A

Investments

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

Frequently asked questions about Terra-Gen