MN8 Energy Acquires Greenbacker Renewable Energy for $375 Million
MN8 Energy has agreed to acquire Greenbacker Renewable Energy Company in a cash-and-equity deal valued at up to $375 million. The merger combines two independent power producers with over 6GW of renewable energy assets across the U.S., positioning them among the three largest clean power platforms in the country. The transaction includes an initial payment of $350 million, with potential additional cash payments tied to commercial milestones. Greenbacker shareholders will receive approximately $1.712 per share in a mix of cash and MN8 equity, subject to caps on total cash proceeds. The deal is expected to close by the end of 2026 after regulatory approvals. The combined entity aims for annual cost savings up to $20 million through efficiencies across operations and financing. It will expand its technology portfolio with wind generation, battery storage, distributed energy resources, and utility-scale solar.
Topics: clean power platforms mergers and acquisitions renewable energy