Cultivate Power Raises $10 Million for Advancing Clean Energy in Emerging Community Solar Markets
Cultivate Power, a distributed solar and storage project developer, has just announced a corporate equity investment of $10 million.
The investment comes from of Generate Capital, a sustainable investment and operating company known for driving the infrastructure transition toward a more sustainable future.
Investment Fueling Growth
The injection of capital will be utilized to propel the company’s growth in several key areas:
- Project Expansion: A substantial portion of the investment will be allocated to expanding the development of solar and storage projects. These projects, typically spanning 10 to 50 acres, are designed to have a substantial impact on both social and economic aspects of rural communities.
- Talent Recruitment: To continue delivering innovative clean energy solutions, Cultivate Power will invest in attracting top-tier talent to the organization. The influx of fresh expertise will further elevate the company’s capabilities.
- Local Partnerships: The company also recognizes the importance of fostering partnerships that benefit the environment and local communities. A portion of the investment will be directed toward supporting such initiatives. This includes the establishment of scholarship and workforce development programs aimed at empowering and uplifting local communities.
“We have worked with the founders of Cultivate Power for many years and are thrilled to invest in the company to support its growth. Cultivate Power’s strong project portfolio, experienced leadership team and focus on distributed clean power projects align with Generate’s mission to accelerate the infrastructure transition,”
– Peggy Flannery, Managing Director at Generate Capital.
Cultivate Power – Leadership and Vision
The driving force behind Cultivate Power’s mission is the duo of Brian Matthay and Noah Hyte, both long-time colleagues and renewable energy development professionals. Their leadership and vision are instrumental in shaping the company’s approach and values.
Cultivate Power specializes in developing distributed solar and storage projects, focusing on land parcels ranging from 10 to 50 acres.
These projects are meticulously designed to create substantial social and economic impacts in rural communities, aligning with Cultivate Power’s commitment to prioritize local benefits and collaboration with each community.
“Generate is a perfect fit for us. They have a strong track record dating back to their early investment and innovation in community solar markets. They share our belief that carefully developed clean power projects can provide significant community benefits such as low-cost power, increased tax revenue, job training programs, and a wide variety of partnerships and funding for community organizations,” – Noah Hyte, Managing Director of Cultivate Power
