Greentech Advises Founder of 8minutenergy on Sale of Company
December 12, 2018
Founded in 2009 by Martin Hermann, 8minutenergy (the “Company”) is the largest and one of the most profitable independent solar power developer in the U.S. having successfully developed approximately 2 GW of utility scale solar. Headquartered in El Dorado Hills, CA the Company has built its success with a strict focus on research and development and reliance on a highly quant-based approach to development.
- On December 7th, 2018 Martin Hermann, CEO and Founder of 8minutenergy, completed the sale of his 50% stake in the Company to Co-Founder Tom Buttgenbach for an undisclosed amount
- The Company consists of the ~10 GW of development pipeline of solar + storage projects spanning over 60,000 acres of land under development
- The Company will retain all existing signed PPAs currently under development including Eagle Shadow Mountain, the 300 MW project with NV Energy
- Prior to accepting the offer from Tom Buttgenbach, Martin Hermann and Greentech raised nearly $400 million of committed capital to support his ownership and future growth plan for the Company
- The process further highlights the strong investor interest in leading renewables developers, the confidence in the future of the solar sector in U.S. and the opportunity that solar + storage provides
Greentech Capital Advisors acted as exclusive financial advisor to Martin Hermann. The transaction further strengthens Greentech’s leading position in its advisory of renewable energy companies across the globe.