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Alternative Assets  + Real Assets  + VC  |  May 26, 2023
Renewable Energy Startup Accelergen Exits Stealth with $30M
Joe Palmisano
By: Joe Palmisano

Renewable Energy Startup Accelergen Exits Stealth with $30M

Greenfield energy developer Accelergen Energy has raised $30 million from Newlight Partners-backed Leyline Renewable Capital to develop solar and storage projects.

Headquartered in Austin, Texas, Accelergen’s business includes site identification, land acquisition, and designing and building, among others. According to the company’s website, it has integrated more than 3GW of projects that are operating on the US’ grid today.

“Our ultimate goal is to help accelerate the energy transition to zero carbon power generation, by bringing premium projects located in sustainably robust grid locations to long-term investors and/or owners of operating projects,” said Accelergen co-founde and CEO Thomas Houle.

In addition to the latest funding, Leyline Renewable Capital entered a partnership with Solterra Energy in June, under which Leyline provided $10 million to support up to 1GW of distributed generation and utility-scale solar projects across the eastern US.

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Inside The Story

AccelergenLeyline Renewable Capital

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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