Silicon Ranch, the solar energy venture led by ex-officials in former Gov. Phil Bredesen’s administration, has landed another nine-figure investment, according to the Nashville Business Journal.
The Nashville-based firm has secured a $100 million equity investment from Partners Group, a Swiss private equity firm that manages an investment portfolio of more than $50 billion, according to a news release Wednesday.
Founded in 2011 by Matt Kisber and Reagan Farr, Silicon Ranch owns, operates and develops solar energy plants in Tennessee, Georgia, Arkansas and Mississippi. The company recently completed its first project in Colorado and Wednesday broke ground on a $100 million facility in Mississippi.
In the release, Kisber and Farr said the investment from Partners Group will help fuel additional growth for the company across the U.S. during the next 18 months.
“[Partners Group] are absolutely the right partner to help us accelerate our business model of developing to own all of our projects for the long-term,” Kisber, Silicon Ranch’s president and CEO, said in the release.
Added Farr, the firm’s CFO: “The solar industry in the U.S. is in the midst of rapid, dynamic expansion, and Silicon Ranch is well-positioned to a play a meaningful role in its development. Adding Partners Group as a business partner further enhances our ability to offer full-service renewable energy solutions to our diverse customer base across the country.”
Note: Kisber, a former state representative, was state finance commissioner under Bredesen. Farr was state revenue commissioner. Bredesen was an early investor in the company.