energyRe Announces $1.2 Billion Capital Raise to Accelerate U.S. Clean Energy Transition
Summary
energyRe will leverage these strategic investments to advance its mission of decarbonizing American cities with abundant, affordable clean power and modern, well-connected electric grids. The capital package also includes a mandated corporate debt facility to be arranged by Santander and Deutsche Bank.energyRes diversified portfolio of renewable assets includes a development pipeline spanning seventeen states and comprises more than 500 miles of high-voltage direct current (HVDC) transmission; 10.5 GW of solar, wind, and storage; and more than 155 MW of distributed generation.Catherine Vandenborre, Interim CEO of Elia Group, said: "Through this agreement, Elia Group (via WindGrid USA) is entering the U.S. markets alongside an established partner with a solid portfolio of projects. Clean Path NY is critical to advancing New York States Climate Leadership and Community Protection Act, which mandates a zero-emission electricity sector by 2040, 70 percent renewable energy generation by 2030, and economy-wide carbon neutrality. Upon operation, Clean Path NY will deliver more than 7.5 million MWh of emissions-free energy annually and reduce fossil fuel-fired electric generation in New York by 22% per year on average. The Foundations mission is to progress research and innovation in the prevention and treatment of cardiometabolic and infectious diseases as well as to advance knowledge and solutions to support a green transformation of society.