It’s not just solar and wind projects that need financing, but also the land they sit on. Nearly 10 million acres of land in the US will be needed for solar assets by 2050, while land-based wind will need around 128 million acres. Houston-based Renewa provides leasing options for landowners and developers to acquire the land needed for such clean energy infrastructure.
Canadian pension and insurance fund manager La Caisse invested $200 million for a stake in Renewa as part of its sustainable land management strategy. Last month La Caisse said it aims to reach C$400 billion ($292 billion) in climate investments by 2030.
“Given the scale and reach of our global renewable energy projects, we see opportunities with their (Renewa’s) model,” said La Caisse’s Emmanuel Jaclot.
Rapid growth
The Australian government’s sovereign investment company QIC acquired Renewa in 2022. With 140 renewable energy projects, the asset manager has grown its portfolio of land under renewables infrastructure to one of North America’s largest. Renewa clients include Enel Green Power North America, Acciona and Duke Energy.
Said cofounders Stephen Lee and Gage Mooring, “Access to land and innovative capital solutions for landowners and developers are essential to making renewable energy growth possible.”
