MN8 Energy, an independent solar and storage energy producer formed by Goldman Sachs Asset Management, filed on Monday with the SEC to raise up to $100 million in an initial public offering.
Formerly known as Goldman Sachs Renewable Power, MN8 Energy was founded inside of Goldman Sachs Asset Management in 2017, and separated into a new independent company in 2022. The company is one of the largest independent solar energy and energy storage power producers in the US and one of the five largest solar and storage asset owners in the US, based on the total gross capacity of its projects. As of June 30, 2022, MN8 Energy's fleet comprised over 850 projects across 27 states, with an aggregate capacity of approximately 2.3 gigawatts of operating and under construction solar projects and approximately 270 megawatts of operating and under construction battery storage projects.
The New York, NY-based company was founded in 2017 and booked $327 million in revenue for the 12 months ended June 30, 2022. It plans to list on the NYSE under the symbol MNX. MN8 Energy filed confidentially on February 7, 2022. Goldman Sachs, BofA Securities, J.P. Morgan, HSBC, Wells Fargo Securities, Jefferies, Nomura Securities, and WR Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
