Markets & Policy

Canada’s Grasshopper closes $48m financing deal for U.S. solar expansion

Grasshopper, a Canada-based renewable energy developer, will use $48 million of financing to support four solar+storage projects in Massachusetts.
Ryan Kennedy
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Ryan Kennedy
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‘From pv magazine USA

Grasshopper Energy, a renewable energy developer with $1.8 billion in assets and offices in Toronto, Tokyo, and New York, has secured $48 million in financing from Cincinnati’s Fifth Third Bank.

The investment will support four Grasshopper projects in Massachusetts, including large-scale solar+battery energy storage.

Grasshopper handles acquisition and development, legal and regulatory, corporate financing, project management, and asset management for large-scale renewables projects.

Grasshopper said it has a development pipeline of more than $6.5 billion. It is focusing on development opportunities in Pennsylvania, New Jersey, and New York. The company also targets international markets, with plans to develop solar in Brazil, Italy, Vietnam, and Australia.

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