CleanCapital acquires brownfield developer BQ Energy
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.