Silicon Ranch raises $225 million in equity capital

(Originally posted on The Tennessean

Nashville-based Silicon Ranch Corp., a solar power producer, recently closed an investment round that attracted $225 million in equity capital, funded entirely by existing shareholders.

This equity raise will support the increase of Silicon Ranch’s portfolio of solar projects, which has operations in more than 15 states including several across Tennessee. The raise will specifically lead to an additional 1 gigawatt of new projects in the next two years.

The equity raise and ongoing support from shareholders will further Silicon Ranch’s growth and enable the company to make capital investments across the country by developing new projects in new markets and pursuing strategic acquisition opportunities.

Co-founded by former Tennessee Gov. Phil Bredesen in 2011, develops-to-own solar farm projects with more than 135 solar farms across the country including the first large-scale solar projects in Georgia, Tennessee, Arkansas, and Mississippi.

Silicon Ranch is the U.S. solar platform for Shell, and works with partners such as the U.S. military, America’s electric cooperatives, and TVA.

TN Advanced Energy Economic Impact Report: Snapshot of media coverage

On June 17, the Tennessee Advanced Energy Business Council released the Tennessee Advanced Energy Economic Impact Report, the first document of its kind that defines the scope and scale of Tennessee’s advanced energy sector and quantifies its economic impact.

The report received statewide media coverage and recognition of advanced energy as an economic driver for Tennessee and a source of high quality jobs. It was distributed to more than 200 local, state and national economic development stakeholders.

Here’s a snapshot of the media coverage from the report release, with links to the full stories. Enjoy!

Tennessee could be a major player in $200B advanced energy economy (Knoxville News Sentinel)
“Tennessee is poised to take a significant chunk of the nation’s $200 billion advanced energy sector according to a new report from the Tennessee Advanced Energy Business Council. The state’s advanced energy sector employs nearly 325,000 individuals…and the jobs pay well above the state average.”

Advanced energy industry grows in Tennessee (Chattanooga Times Free Press)
“Much of the growth in Tennessee is being driven by the automotive industry, which is working to reach a fleet average mileage standard of 54.5 miles per gallon by 2025.”

Report: Tennessee leader in ‘advanced energy’ (The Tennessean)
“’We see advanced energy as an economic driver, especially in rural areas,’ said Steve Bares, president and executive director of Memphis Bioworks Foundation.”

New report tracks Tennessee’s economic impact in ‘advanced energy’ sector (Kingsport Times-News)
“Advanced energy provides a home for Tennessee’s emerging workforce as the state attempts to get 55 percent of Tennesseans equipped with a college degree or certificate by 2025.”

Study: Advanced energy business contributes $33.4 billion to state GDP (Memphis Business Journal)
“Schneider Electric’s Jim Plourde said compiling the information was important for increasing visibility, highlighting Tennessee as a leader in the field, showcasing opportunities to an emerging workforce and driving the economy.”

Budding advanced energy sector grows in Tennessee (Nooga.com)
“The [advanced energy] industry provides opportunities for entrepreneurs. A developing sector means ripe opportunities for new ideas and businesses.”

TAEBC releases first-ever look at state’s advanced energy sector (Teknovation.biz)
“Advanced energy is a lucrative growth sector and a source of high quality jobs in the Volunteer State, according to a new report from the Tennessee Advanced Energy Business Council (TAEBC).”

Schneider Electric among state leaders in advanced energy sector (Daily News Journal)
“’National studies show rapid growth that outpaces the rest of the economy,’ said Matt Murray, with the Howard Baker Jr. Center for Public Policy, which produced the report. He added it also found employment growth in the sector was more robust than any other sector from 2012 to 2013.”