PosiGen Secures $100 Million to Accelerate National Growth Efforts

New Orleans-based renewable energy provider PosiGen has closed $100 million in financing led by Magnetar Capital’s Energy & Infrastructure group. This preferred equity financing will jumpstart the company’s growth outside of Louisiana.

With a pursuit to provide solar power for all, PosiGen offers affordable and accessible renewable energy options including its solar leasing program. The company currently has more than 19,000 residential customers. 

“The opportunity to scale PosiGen’s operations into many underserved markets in the United States is significant,” shared Eric Scheyer, Head of Energy and Infrastructure at Magnetar.

In addition to supporting PositGen’s national expansion, the investment from hedge fund Magnetar Capital will also support investments in the company’s core technology infrastructure.