MN8 Energy to acquire Greenbacker in US$375 million deal

MN8 Energy has agreed to acquire Greenbacker Renewable Energy in a deal valued at US$375 million, creating a renewable energy platform with more than 6 gigawatts of operating and under-construction capacity across 33 U.S. states, the companies announced Wednesday. The transaction combines MN8's 4.3GW portfolio across 29 states with Greenbacker's approximately 1.9GW fleet across 22 states. MN8 said the combined company will rank among the three largest clean power platforms in the United States, expanding its geographic footprint into the Midwest and Northeast and adding wind generation capacity alongside additional battery energy storage systems, distributed generation and utility-scale solar assets. Jon Yoder, CEO of MN8, stated: "This combination brings together two complementary platforms at a critical time. We have built MN8 to be an institutional-grade, vertically integrated operator with the development, financing and asset management depth to serve the most demanding enterprise customers in the country. Together with Greenbacker, we will have the scale, diversification and expertise to lead the next chapter of America's infrastructure build-out." Yoder will continue as president and CEO of the combined company following completion of the transaction. The transaction has been unanimously approved by the boards of both companies and is expected to close in the fourth quarter of 2026, subject to shareholder approvals, regulatory clearances and other customary closing conditions.