Generate Capital, an investor, owner and operator of critical infrastructure, has closed a $117 million term debt facility with MUFG to finance a portfolio of community solar projects across Illinois and New York.
The transaction marks Generate’s first community solar financing with MUFG and expands the company’s network of institutional financing partners.
The facility supports Generate’s Community Solar Fund 11, which includes 18 projects totaling 114 MWdc across the two states. The capital will support Generate’s continued investment in distributed solar infrastructure intended to provide communities and businesses with access to reliable and affordable electricity.
Community solar projects allow multiple customers to receive benefits from a shared solar facility rather than requiring each customer to install generation directly on its own property. The model can expand access to renewable energy for households and businesses that may not have suitable rooftops or the ability to install their own systems.
For Generate, the new debt facility adds another institutional source of capital as it continues building a diversified infrastructure financing platform.
The transaction follows approximately $1.4 billion of financing commitments completed by Generate during the first half of 2026. Those financings covered a range of infrastructure assets, including community solar, battery energy storage systems and energy-efficiency projects.
Among those transactions was financing connected to a 104 MW community solar portfolio developed alongside Monarch Private Capital. The portfolio includes more than 15 projects that are expected to generate approximately $200 million in investment tax credits.
Generate also completed a $61 million senior secured U.S. Private Placement to finance energy-efficiency projects for an investment-grade industrial customer.
The 15-year construction-to-term financing represented Generate’s first 4(a)2 U.S. Private Placement, giving the firm another source of long-term capital while further diversifying its financing relationships.
The new MUFG facility adds to that capital formation activity while specifically expanding financing capacity for Generate’s community solar strategy.
Generate said its recent transactions reflect continued institutional demand for infrastructure assets that can provide long-term contracted cash flows. The company structures financing across multiple infrastructure categories rather than concentrating on a single energy technology.
Founded in 2014, Generate invests in and operates energy and infrastructure projects designed to address increasing demand for electricity and grid capacity.
The company works with large energy users, including data centers and other power-intensive facilities, providing infrastructure solutions that can combine multiple technologies and help customers secure power and grid connections more quickly.
Since its founding, Generate has raised more than $16 billion in capital across its infrastructure platform.
The $117 million transaction also expands MUFG’s participation in distributed energy infrastructure.
MUFG is one of the world’s largest financial groups and operates approximately 2,000 locations across more than 40 countries. Its Americas operations include corporate and investment banking, Japanese corporate banking and global markets activities.
For Generate, the financing provides additional capital to continue scaling community solar while complementing the broader funding platform it has assembled across solar, battery storage, energy efficiency and other infrastructure assets.
KEY QUOTES:
“The closing of this facility with MUFG further expands our financing partner network and provides additional capital to support the continued growth of our community solar platform. Combined with the significant financing activity we completed during the first half of the year, this transaction reflects the strength of our platform and our ability to attract capital from leading institutions across a diverse range of infrastructure solutions.”
Ed Bossange, Chief Capital Formation Officer at Generate Capital
“We are pleased to partner with Generate on this financing and support the continued growth of its community solar platform. Generate has built a strong track record of developing and operating high-quality distributed energy assets, and this transaction reflects our shared commitment to financing critical infrastructure that delivers reliable, affordable power to communities across the country.”
Fred Zelaya, Managing Director at MUFG
