New Generation Power
New Generation Power is a Chicago-based independent renewable energy producer that develops, owns, and operates utility-scale solar, wind, hydro, biomass, and geothermal projects across North America, Europe, and Asia for government, utility, and rural electrification customers.
- Company typePrivate
- Founded2009
- HeadquartersChicago, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What New Generation Power does
New Generation Power, Inc. (NGP) is a Chicago-headquartered independent renewable energy power producer founded in 2009 that acquires, develops, owns, and operates utility-scale renewable generation assets across North America, Europe, and Asia. Its operational portfolio spans solar, wind, hydroelectric (including pumped storage), biomass, geothermal, and distributed energy resources, with flagship projects including the Rockford Solar Farm at Chicago Rockford International Airport (62MW planned, 3.06MW operational), the U.S. Army MATOC vehicle for Department of Defense installations (contract ceiling up to $25B), the 600MW Southeastern Europe Hydro pumped storage project in the Republic of Srpska, the 321MW Asia Renewable Portfolio (181MW wind, 110MW hydro, 30MW solar) with a 2.6GW pipeline, the 4GW Punjab Bioenergy + Solar project in India, and a rural electrification initiative using IoT, drones, and AI-enabled distributed energy resources. The company is privately held, reports 11-50 employees, and is led by Chairman Dr. Chirinjeev Kathuria.
The business model is anchored in long-term Power Purchase Agreements and Feed-in Tariffs (93% of installed Asia capacity is contracted under long-term PPAs), supplemented by Build-Own-Operate-Transfer structures (e.g., Punjab Bioenergy transfers to the State of Punjab after 15 years) and consortium-based project development with strategic and financial partners including Wanxiang America, Mapex Path, Eaton Corporation, and Jones Lang LaSalle Capital Markets. Go-to-market is primarily direct enterprise and government field sales: NGP holds a U.S. Army MATOC for DOD installations, a 20-year PPA with Ameren Illinois, government-cooperation frameworks with the Republic of Srpska and Punjab State Power Corporation Limited, and World Bank engagement for Drina River hydro and solar parks. Revenue mechanics are therefore long-duration and contract-anchored but concentrated, with customer segments split across U.S. defense, U.S. and Asian utilities, sovereign/sub-sovereign governments in Southeast Europe and India, and rural underserved communities in India.
New Generation Power firmographics
Firmographics- Name
- New Generation Power
- Legal name
- New Generation Power, Inc.
- Website
- https://newgenpower.com
- Company type
- Private
- Founded year
- 2009
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- New Generation Power is a Chicago-based independent renewable energy producer that develops, owns, and operates utility-scale solar, wind, hydro, biomass, and geothermal projects across North America, Europe, and Asia for government, utility, and rural electrification customers.
- Ownership category
- akta.pro rank
New Generation Power industry classification
Industry- Product category
- Independent Power Producer (IPP) / Renewable Energy Generation
- NAICS
- Hydroelectric Power Generation (221111), Solar Electric Power Generation (221114), Wind Electric Power Generation (221115), Biomass Electric Power Generation (221117), Geothermal Electric Power Generation (221116)
- SIC
- Electric Services (4911), Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Utility-Scale Power Generation Asset Management (EUAEAMAA)
- akta.pro secondary industries
- Hydropower Operations, Maintenance & Refurbishment (R&M/Life Extension) (EUACAEAG), Community Microgrids & Shared Distributed Generation (EUACALAC), Renewable Distributed Generation (Rooftop/Onsite Solar, Small Wind, Small Hydro) (EUACALAJ), Power Generation Plant Construction (Thermal, Hydro, Nuclear) (IMAFADAC), Turbines, Generators & Hydromechanical Equipment Manufacturing (OEMs) (EUACAEAH)
Keywords
Where New Generation Power is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
New Generation Power business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Technology or R&D, Supply Chain, Personnel, Operations, Marketing or Sales
Revenue model
- Power Purchase Agreements (PPAs): Long-term power purchase agreements with utilities, government entities, and grid operators. 93% of installed capacity in Asia portfolio contracted under Feed-in Tariffs. 20-year PPA with Ameren Illinois for Rockford Solar.
- Build-Own-Operate-Transfer (BOOT): Build-own-operate-transfer model for international projects. Punjab Bioenergy project will be transferred to State of Punjab after 15 years of operation.
- Project Development and Acquisition: Developing and acquiring renewable energy assets globally. Revenue generated through project development fees, asset acquisition appreciation, and long-term operational cash flows.
Go-to-market motion1 record
Distribution channels4 records
Marketing channels5 records
New Generation Power product offering
Product offeringCore offering
New Generation Power is an independent renewable-based power generation company that acquires, develops, owns, and operates utility-scale renewable energy projects across solar, wind, hydro (including pumped storage), biomass, geothermal, and distributed energy resources. The company monetizes its projects primarily through long-term Power Purchase Agreements (PPAs) with utilities, state power corporations, and government entities across North America, Asia, and Southeastern Europe.
Product overview
New Generation Power is a fully integrated independent power producer delivering renewable energy solutions through multiple project types. The company operates a diversified global portfolio spanning wind, solar, hydro, biomass, geothermal, and storage technologies. Key projects include Rockford Solar (62 MW airport solar farm in Illinois), MATOC (U.S. Army renewable energy contracts worth up to $25B), Southeastern Europe Hydro (600 MW pumped storage in Republic of Srpska), Asia Renewable Portfolio (321 MW operational with 2.6 GW pipeline), Punjab Bioenergy + Solar (4 GW biomass and solar in India), and Distributive Energy Generation (rural electrification using DERs with IoT/AI control).
Differentiator
Problem solved
Functional benefit
Products and services
- Rockford Solar Farm Utility-scale commercial airport solar farm at Chicago Rockford International Airport (62 MW planned, Phase I 3.06 MW operational generating ~3,900 MWh/year). Developed under a 20-year PPA with Ameren Illinois, serving as a landmark in complex intergovernmental cooperation for airport solar.
- US Army MATOC Renewable Energy Program U.S. Army Corps of Engineers Multiple Award Task Order Contract (MATOC) for renewable and alternative energy production at Department of Defense installations. Covers solar ($2.5B), wind ($2.5B), biomass ($16B), and geothermal ($4B) for a $25 billion total contract ceiling, supporting the DOD's 25% renewable energy by 2025 mandate and net-zero installation goals.
- Southeastern Europe Hydro (Buk Bijela Pumped Storage) Reversible pumped storage hydroelectric project on the Drina River Basin in the Republic of Srpska — 600 MW capacity (expandable to 900 MW) providing carbon-free baseload renewable energy, frequency regulation, and voltage stability with a 100-year design life cycle. Projected 1,388 GWh/year annual energy production for European Union grid operators.
- Asia Renewable Portfolio Acquired portfolio of operational renewable energy assets across Asia — 321 MW operational (181 MW wind, 110 MW hydro, 30 MW solar) with a 2.6 GW expansion pipeline. 93% of installed capacity contracted under Feed-in Tariffs with long-term PPAs; powers remote areas with inadequate grid access.
- Punjab Bioenergy + Solar Integrated biomass and solar power complex in Punjab, India — 1 GW biomass (using thermo-chemical conversion/gasification of agricultural stubble) plus 3 GW solar, with energy fed directly into the Punjab State grid under government-backed PPAs. Expected to create 500,000+ jobs and address the regional air quality crisis caused by rice paddy stubble burning.
- Distributive Energy Generation (Rural Electrification) Rural village electrification initiative in India using Distributed Energy Resources (DERs) and AI/IoT-enabled remote operation, targeting the 1.2 billion people globally without electricity and 63 million rural Indians lacking reliable energy. Delivers 30% cost savings in transmission and distribution versus traditional grid extension.
Quantifiable outcome
- 3,900 MWh/year electricity generation from Rockford Solar Farm
- +4 more outcomes
Companies that use New Generation Power
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles4 records
New Generation Power technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability1 record
Feature4 records
New Generation Power partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and major.
- Mapex Path Private LimitedcoreIndia-based renewable energy project developer selected as partner to develop and build 10GW worth of renewable energy projects across different states of India. Partnership aligned with Indian Prime Minister Modi's target of 175GW of renewable energy by 2020.
- POWER EngineersmajorPOWER Engineers named project lead for geothermal projects under U.S. Army MATOC award to New Generation Power for Department of Defense renewable energy development.
- Eaton CorporationmajorConsortium partner with New Generation Power for $1.67 billion cooperation agreement with Republic of Srpska for four hydro projects totaling 365 megawatts on the Lower Drina river.
- Wanxiang AmericacoreRockford Solar Partners joint venture between Wanxiang America and New Generation Power for development of commercial airport solar farm at Chicago Rockford International Airport. Wanxiang America supplies solar photovoltaic panels from its Rockford-based assembly plant. The project represents landmark intergovernmental cooperation involving FAA, DOE, and multiple government entities.
Scale indicators9 records
Recent moves6 records
Expansion highlights7 records
New Generation Power competitors and assessment
Company assessmentDirect peers
- Pattern Energy Group: Acquired by Canada Pension Plan Investment Board in 2020, Pattern owned and operated utility-scale wind, solar, and storage across North America, Japan, and other markets. Comparable multi-region contracted renewable IPP strategy to NGP.
- Clearway Energy: US-based, publicly traded yieldco that owns and operates a diversified portfolio of wind, solar, and thermal generation assets under long-term PPAs. Closely comparable to NGP's diversified renewable IPP model, contracted cash flow orientation, and multi-technology scope.
- sPower (now part of AES Corporation): Independent renewable power developer and operator with utility-scale solar and wind projects across the US, integrated into AES's renewables platform. Closely matches NGP's utility-scale solar/wind developer profile and PPA-driven approach with US off-takers.
- Innergex Renewable Energy: Canadian independent renewable power producer operating hydro, wind, and solar assets across North America, France, and Chile under long-term PPAs. Closely comparable multi-technology, multi-geography independent IPP operator model.
- ReNew Power: India's largest independent renewable IPP with utility-scale wind, solar, and hydro PPAs. Direct peer given NGP's Punjab Bioenergy and MapexPath 10GW India development focus and Indian rural DER initiatives.
- NextEra Energy Partners: US yieldco that acquires and operates contracted renewable generation assets (wind, solar, and storage) with long-term PPAs. Mirrors NGP's build-own-operate strategy with corporates and utilities and its renewable infrastructure focus.
Broad incumbents
- Adani Green Energy: India's largest listed pure-play renewable power producer with multi-GW operational and pipeline wind, solar, and hybrid capacity. Highly comparable to NGP on Indian renewables scale-up, but with materially larger operational and capital base.
- Brookfield Renewable Partners: One of the world's largest publicly traded renewable power generators operating hydro, wind, solar, and storage assets across the Americas, Europe, and Asia. Shares NGP's globally diversified hydro/wind/solar focus and PPA-driven business model, but at far greater scale.
- Algonquin Power & Utilities: North American renewable energy and utility operator with significant wind, solar, and hydro generation under long-term contracts. Comparable diversified renewable IPP footprint, though also includes regulated utility operations.
Others
- Hannon Armstrong Sustainable Infrastructure Capital: US-based investor/financier of climate solutions including renewable energy projects, energy efficiency, and sustainable infrastructure. Comparable as capital provider and PPA counterparty across renewable IPP transactions similar to NGP's MATOC and project financings.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
New Generation Power social profiles
Digital presenceNew Generation Power financial estimates
Financial estimateRevenue estimate
Valuation estimate
New Generation Power leadership team
Management profileNumber of profiles
Profiles2 records
New Generation Power subsidiaries and ownership
Company hierarchySubsidiaries2 records
New Generation Power funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
New Generation Power M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about New Generation Power
What does New Generation Power do?
New Generation Power is an independent renewable-based power generation company that acquires, develops, owns, and operates utility-scale renewable energy projects across solar, wind, hydro (including pumped storage), biomass, geothermal, and distributed energy resources. The company monetizes its projects primarily through long-term Power Purchase Agreements (PPAs) with utilities, state power corporations, and government entities across North America, Asia, and Southeastern Europe.
Is New Generation Power a public or private company?
New Generation Power is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was New Generation Power founded?
New Generation Power was founded in 2009. It employs 11 to 50 people.
Where is New Generation Power based?
New Generation Power is headquartered in Chicago, United States, in the North America region.
How does New Generation Power make money?
Three revenue lines are on record. Power Purchase Agreements (PPAs) is the primary driver. The others are build-Own-Operate-Transfer (BOOT) and project Development and Acquisition.
Who are New Generation Power's main competitors?
Direct peers on record are Pattern Energy Group, Clearway Energy, sPower (now part of AES Corporation), Innergex Renewable Energy, ReNew Power and NextEra Energy Partners. Broad incumbents are Adani Green Energy, Brookfield Renewable Partners and Algonquin Power & Utilities. Hannon Armstrong Sustainable Infrastructure Capital is listed as an others.
Does New Generation Power have an API?
No public API is recorded for New Generation Power.
What industry is New Generation Power in?
New Generation Power's product category is Independent Power Producer (IPP) / Renewable Energy Generation. Its primary akta.pro industry code is EUAEAMAA, Utility-Scale Power Generation Asset Management, with a secondary code of EUACAEAG, Hydropower Operations, Maintenance & Refurbishment (R&M/Life Extension). Its NAICS code is 221111 and its SIC code is 4911.