MN8 Energy has agreed to acquire Greenbacker Renewable Energy Company, a US-based independent power producer (IPP), through a cash-and-equity transaction valued at up to USD375m (MN8 Energy press release, 22/07/2026).
“The surge in enterprise power demand, primarily driven by AI and the rapid expansion of data centers, is accelerating the need for additional generation capacity and infrastructure investment across the U.S. The transaction brings together power providers with the scale and expertise to deliver the capacity and infrastructure needed to support this accelerated expansion”, said MN8 Energy in its press release.
- MN8 Energy is a scaled power platform that develops, owns and operates energy assets for enterprise customers, with more than 4.3 GW of operating and under-construction renewable capacity across 29 states.
- Greenbacker is an IPP owning an approximately 1.9 GW portfolio of operating and under-construction renewable energy assets across 22 states.
The merger combines two IPP companies, creating a platform with more than 6 GW of combined operating and under-construction renewable energy capacity across 33 US states. According to the companies, the combined entity will rank among the three largest clean power platforms in the US.
Approximately 94% of the combined capacity is contracted, with a weighted average remaining term of 14 years for solar power purchase agreements and a funded development pipeline of approximately 9.3 GW.
The transaction is expected to close in Q4 2026, subject to customary regulatory approvals as well as approval from MN8 members and Greenbacker shareholders.