Ridgewood Infrastructure-backed MN8 to acquire power producer Greenbacker for $375m
- MN8 was originally spun out from Goldman Sachs Asset Management’s renewable power group
- Greenbacker owns a fleet of operating and under construction renewable energy assets across 22 states
- Jon Yoder will continue as president and CEO of the combined company upon completion of the transaction
MN8 Energy Holdings, which is backed by Ridgewood Infrastructure and Mercuria Energy, have agreed to acquire Greenbacker Renewable Energy Company, a New York-based power producer, for up to $375 million.
Headquartered in New York, MN8 is a power platform that develops, owns and operates energy assets.
MN8 was originally spun out from Goldman Sachs Asset Management’s renewable power group.
Greenbacker owns a fleet of operating and under construction renewable energy assets across 22 states.
The transaction broadens MN8’s geographic reach by adding Greenbacker’s presence in the Midwest and Northeast.
On the deal. Jon Yoder, president and CEO of MN8, said in a statement, “This combination brings together two complementary platforms at a critical time. We have built MN8 to be an institutional-grade, vertically integrated operator with the development, financing, and asset management depth to serve the most demanding enterprise customers in the country. Together with Greenbacker, we will have the scale, diversification, and expertise to lead the next chapter of America’s infrastructure build-out.”
Dan de Boer serves as CEO of Greenbacker.
The transaction is expected to close in the fourth quarter of 2026.
Jon Yoder will continue as president and CEO of the combined company upon completion of the transaction.
J.P. Morgan Securities LLC is serving as financial advisor and Vinson & Elkins LLP is serving as legal advisor to MN8.
Morgan Stanley & Co. LLC and Wells Fargo are serving as financial advisors and Freshfields US LLP is serving as legal advisor to Greenbacker.
