Generate Capital and KeyState Close $154.5 Million Solar Fund

The new capital injection follows an $85 million fund announced by the companies in October 2025, which is currently reaching its final funding stages. This latest deal contributes to a broader wave of financing for Generate Capital, which has secured $1.6 billion in commitments throughout 2026 to accelerate infrastructure deployment.

Peggy Flannery, managing director at Generate Capital, noted that long-term partnerships remain central to scaling power capacity. Allan Riska, chief investment officer at KeyState, emphasized that the collaboration allows community and regional banks to participate in large-scale renewable energy assets. Since entering the community solar market in 2017, Generate has established a significant footprint, leveraging a decade of operational experience to expand energy access. Legal counsel for the transaction was provided by Holland & Knight, with Willis Towers Watson serving as the ITC insurance broker.