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CleanCapital acquires brownfield developer BQ Energy

Jun 29, 2022
Illustration of a lightning bolt stuck in mud

Illustration: Annelise Capossela/Axios

Energy investment firm CleanCapital has acquired BQ Energy, a brownfield energy developer, the companies tell Axios.

Why it matters: Consolidation among renewables developers is ticking up amid rising project costs and market uncertainty.

Context: Brownfield developers create renewable energy projects on polluted lands, such as former industrial sites or landfills.

  • As part of the deal, CleanCapital will fund BQ Energy's pipeline of mid- and late-stage brownfield projects, totaling roughly 1GW of solar power.

Quick take: Look for more investors to roll up independent renewables developers that are struggling to get large-scale projects over the finish line.

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