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terra-gen.com

Stage

Private Equity | Alive

Total Raised

$585.3M

Mosaic Score

+150 points in the past 30 days

What is a Mosaic Score?
The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.

About Terra-Gen

Terra-Gen is a renewable energy company focused on geothermal, wind and solar generation. The company primarily sells the output of the renewable energy projects to load serving entities under long-term power purchase agreements. Terra-Gen Power plans to expand operations in renewable generation through a combination of acquisitions of operating projects, development of new projects and partnering on mid and late stage development opportunities.

Terra-Gen Headquarter Location

437 Madison Avenue 22nd Floor, Suite A

New York, New York, 10022,

United States

646-829-3900

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Latest Terra-Gen News

Electrify America Announces EV Charging Network Backed By 100 Percent Renewable Energy And Power Purchase Agreement For 75 Megaw...

May 24, 2022

New solar photovoltaic renewable energy generation project in San Bernardino County, CA called Electrify America Solar Glow™ 1 Commits to net zero carbon footprint for all energy delivered to drivers across its coast-to-coast public ultra-fast DC charging network Becomes North America's largest open electric vehicle fast charging network to enter into a virtual power purchase agreement for new renewable energy generation Contributes to 'additionality' as part of company's sustainability mission to create brand new renewable energy that would not otherwise be available Reston, VA /PRNewswire/ - Electrify America announced today it has entered into a 15-year virtual power purchase agreement (VPPA) with developer Terra-Gen to build a solar photovoltaic renewable energy generation project in San Bernardino County, California called Electrify America Solar Glow™ 1. The new solar project is expected to generate 75 Megawatts (MW) at peak solar capacity or an estimated annual production of 225,000 Megawatt hours. It is projected to produce enough 100% renewable energy annually to more than offset the energy currently delivered on an annualized basis to Electrify America's customers charging on its extensive network. The solar project is targeted to be operational by mid-2023. In becoming the largest open network in North America to enter into a VPPA, Electrify America will be supporting the key sustainability goal of "additionality," meaning that this arrangement would result in new, additional renewable energy generation. Electrify America is purchasing and retiring all bundled environmental certificates associated with the new solar project over a 15-year period, shifting away from the business-as-usual approach of buying environmental certificates from a third-party supplier on an unbundled basis, which does less to support additional renewable energy generation. For more information, please visit https://media.electrifyamerica.com/en-us/ To view the announcement video, please click here. "Electrify America's business model – and purpose – have always been at the forefront of efforts to reduce emissions through enabling electric mobility," said Giovanni Palazzo, president and CEO of Electrify America. "Our commitment to customers and to a sustainable future go hand-in-hand, which is why we are investing in renewable energy generation to commit to a net zero carbon footprint associated with the energy delivered to our customers." Electrify America's first solar project in the Southern California Mojave Desert may also be expanded at the option of Terra-Gen to include a co-located battery energy storage system to further increase the delivery of renewable energy to the grid during times when more costly – and often more polluting – peaking power plants may be used to meet customer needs. The potential use of a co-located battery energy storage system at the facility would add to Electrify America's ongoing effort of deploying over 30 MW of co-located behind-the-meter energy storage systems at charging stations across the U.S. This ongoing investment from Electrify America is already decreasing the carbon profile and potential emissions associated with the electricity generation that powers the company's charging network. Electrify America Solar Glow™ 1 - Project Specifics Location: San Bernardino County, CA Developer: Terra-Gen Timeline: Groundbreaking – Late 2022 | Target Operation Date – Summer 2023 Immediate Impact Although the new solar facility will not be online until mid-2023, Electrify America's charging network is already backed by 100% renewable energy effective April 2022 through the purchase of environmental certificates from existing renewable generation. In addition, and to further bolster near-term sustainability impact, Electrify America has entered into an interim VPPA, effective October 2022, with Terra-Gen to support Terra-Gen's existing Solar Energy Generating Systems (SEGS) IX solar thermal plant until the adjacent new solar photovoltaic facility in San Bernardino County is fully operational. Electrify America will receive the bundled environmental certificates and purchase renewable energy from SEGS IX, once part of the largest solar thermal energy generating facility in the world when completed in 1990 and also the world's longest-operating solar thermal facility. "Electrify America is proud to support SEGS, which was instrumental to fostering renewable energy generation in the 20th Century and parallels to Electrify America's mission to advance electric vehicle adoption today", said Jigar Shah, Head of Energy Services at Electrify America. "In aggregate, these 100% renewable energy commitments address Scope 2 greenhouse gas emissions for all energy delivered to our customers, and amount to an estimated 2 million metric tons in avoided CO2 emissions over 15 years[1] - comparable to the carbon sequestered by planting nearly 40 million trees[2]." About Electrify America Electrify America LLC, the largest open DC fast charging network in the U.S., is investing $2 billion over 10 years in Zero Emission Vehicle (ZEV) infrastructure, education and access. The investment will enable millions of Americans to discover the benefits of electric driving and support the build-out of a nationwide network of workplace, community and highway chargers that are convenient and reliable. Electrify America expects to have more than 1,800 total charging stations with over 10,000 chargers in the United States and Canada by 2026. During this period, the company will be expanding to 49 states and the District of Columbia, delivering on its commitment to support increased ZEV adoption with a network that is comprehensive, technologically advanced and customer friendly. Electrify America earned the 2020 and 2021 "EV Charging Infrastructure Best-in-Test" award from umlaut , an infrastructure and benchmarking specialist, now part of Accenture, as published in Charged Electric Vehicles Magazine . Electrify America's Electrify Home ® offers home charging solutions for consumers with flexible installation options. Electrify Commercial ® provides expert solutions for businesses looking to develop electric vehicle charging programs. For more information, visit www.electrifyamerica.com and media.electrifyamerica.com . About Terra-Gen Terra-Gen, LLC is a leading U.S. developer, owner, and operator of utility-scale renewable energy projects in North America. Terra-Gen owns approximately 1.3 GW of wind, solar and energy storage capacity in operation across 26 renewable power facilities throughout the United States. Terra-Gen was formed in 2007 and is owned by ECP, a leading investor in infrastructure facilitating the energy transition, and First Sentier Investors, a leading global asset manager. For more information, visit www.terra-gen.com . [1] Based on 2019 U.S. national weighted average CO2 marginal emission rates. https://www.epa.gov/energy/greenhouse-gases-equivalencies-calculator-calculations-and-references [2] Based on 0.060 metric ton CO2 per urban tree planted grown for 10 years. https://www.epa.gov/energy/greenhouse-gases-equivalencies-calculator-calculations-and-references Source: Electrify America, LLC

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  • Where is Terra-Gen's headquarters?

    Terra-Gen's headquarters is located at 437 Madison Avenue, New York.

  • What is Terra-Gen's latest funding round?

    Terra-Gen's latest funding round is Private Equity.

  • How much did Terra-Gen raise?

    Terra-Gen raised a total of $585.3M.

  • Who are the investors of Terra-Gen?

    Investors of Terra-Gen include Energy Capital Partners, First State Investments, KeyCorp, Commonwealth Bank of Australia, Credit Agricole and 9 more.

  • Who are Terra-Gen's competitors?

    Competitors of Terra-Gen include Fulcrum BioEnergy, Orbital Marine Power, Renew Financial, Propel Fuels, Garbrook Knowledge Resources and 12 more.

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