Nexamp Secures $520 Million to Expand Community Solar Projects and Partnerships Across the U.S.

Community solar provider Nexamp has secured a $520 million capital raise led by Manulife Investment Management, with participation from existing investors Diamond Generating Corporation and Generate Capital. The deal is expected to expedite deployment of its national community solar project pipeline and expand on developer partnerships in new and existing markets. Community solar is a growing segment in the US, expanding access to solar to customers who may lack suitable roofs or finances for rooftop residential solar. Currently, Nexamp serves nearly 80,000 customers with over 1.5 GW of projects in its pipeline in over 20 markets. The company also plans to invest over $2 billion in energy infrastructure in Illinois, which has among the nation’s most robust community solar markets.