The state of Massachusetts has outlined clear climate change action goals that includes achieving net zero by 2050. In order to achieve this target, Governor Charlie Baker announced a renewable energy bill that details plans to develop 5.6GW of renewable energy infrastructure across the state by the year 2030. This bill is an addition to plans to increase offshore wind capacity by 2.5GW which Governor Baker has previously announced. In order to achieve the ambitious goals, set by the Government, green infrastructure investors will play a key role in ramping up the development. This article will include three green infrastructure investors based in Massachusetts who will play a key role in driving this change.
1) Nexamp (Massachusetts, United States)
Nexamp is a Massachusetts-based clean energy developer and investor which can offer a proven track record developing solar projects. Founded in 2005, the firm has been at the heart of the green energy transition in the state and aims to be carbon neutral by 2030. Since its inception, Nexamp has developed an installed capacity of 1GW of solar assets in operation or under development. The firm has also developed energy storage projects and deals with corporations to negotiate PPAs which can benefit both parties.
2) Agilitas Energy (Massachusetts, United States)
Agilitas Energy is a leading developer and investor in green infrastructure projects located across the Northeast and Texas. To date, the firm has developed and/or constructed over 500MW of solar and storage projects. The Massachusetts-based group has plans to accelerate this growth with plans to develop a further 1GW of green energy located across the United States. Such plans include the $75m acquisition of an energy storage portfolio with projects located across the state of Texas.
3) Longroad Energy (Massachusetts, United States)
Longroad Energy is a proven developer, owner, and operator/asset manager of green infrastructure projects. Currently, the group has developed or invested in 6.7 GW of green energy projects, owning 2.4GW of projects which are mainly comprised of wind and solar assets. The Massachusetts firm has raised nearly $10bn of third-party capital in order to accelerate the growth of renewable energy projects across the United States. Headquartered in Boston, the firm was established in 2016 by a former executive of First Wind Energy (Paul Gaynor). Since its inception, Longroad has undergone significant growth which is highlighted by its project portfolio and capital raised.
Image Source: Dan Meyers via Unsplash (18.04.2023)