Silicon Ranch Funding, Investors & Competitors
Silicon Ranch has raised $2.1B across 10 funding rounds, most recently a $8M undisclosed-stage round in May 2026.
Last Silicon Ranch funding round
$8M
Undisclosed stage · May 2026
Cumulative funding Silicon Ranch raised
$2.1B
across 10 funding rounds
Key investors in Silicon Ranch
Partners Group
Mountain Group Capital
Shell
Greystone Managed Investments
Manulife Investment Management
TD Asset Management
AIP Management
About Silicon Ranch
Silicon Ranch is a Nashville-headquartered developer and operator of solar power plants across the United States. The company manages a portfolio exceeding 3.6 gigawatts of solar and battery storage capacity in states like Tennessee, Texas, and California. Acquired by Shell in 2021, Silicon Ranch implements agrivoltaics through its Regenerative Energy program, combining energy production with sheep grazing and habitat restoration on project sites.
Founded
2011
HQ
Nashville, TNWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Usage-based
Silicon Ranch Funding History
Silicon Ranch has raised a total of $2.1B across 10 funding rounds.
Silicon Ranch's first fundraising round was a $4M seed round in August 2014. The most recent completed round was a $8M undisclosed-stage round in May 2026.
Silicon Ranch funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| May 2026 | Undisclosed stage | - | $8M | Silicon Ranch raised approximately USD 500 million in an equity investment from AIP Management in 2025, with AIP acquiring a minority stake; existing shareholders Shell, Manulife Investment Management, and TD Asset Management remained involved, and TD Asset Management joined the equity raise process. The investment was described as supporting Silicon Ranch’s continued growth and its ability to deliver clean power at scale, consistent with the company’s role as a utility-scale solar, battery storage, and carbon solutions developer and independent power producer. Silicon Ranch is a Tennessee-based company focused on utility-scale solar and storage projects, with a long-term owner-operator model. Its disclosed project scale includes a 260-megawatt energy and agriculture project in Stockton, described as a private investment of about USD 350 million and expected to generate more than USD 50 million in local tax revenue over its life. The company reports roughly 250 employees and has raised a total of USD 1.9 billion in funding, with debt financing noted as the most recent round on record. |
| Apr 2025 | Undisclosed stage | AIP Management (lead) | $500M | Silicon Ranch, a Nashville, Tennessee-based independent power producer (IPP) founded in 2011, develops, constructs, owns, and operates utility-scale solar energy infrastructure across 15 US states and one Canadian province. The company emphasizes a community-focused approach with its Regenerative Energy model, incorporating agrivoltaics, regenerative ranching, soil health restoration, biodiversity promotion, and water quality improvement on its sites. It maintains the largest wholly owned agrivoltaics portfolio in the US and has secured long-term power purchase agreements (PPAs) through its in-house engineering, procurement, and construction capabilities. On April 3, 2025, AIP Management, a Denmark-based energy and decarbonization infrastructure investor, announced a US$500 million investment in Silicon Ranch to support its growth strategy amid rising US electricity demand from industrial growth, AI data centers, and manufacturing reshoring. The transaction closed on June 10, 2025, marking AIP's second renewables platform investment after acquiring a minority stake in French IPP Valorem in 2024. AIP's Director of Investments, Lasse Helstrup, joined Silicon Ranch's board, bringing expertise from AIP's New York office. Existing investors include Shell, Manulife Investment Management, and TD Asset Management. At the time of the announcement, Silicon Ranch had 3.6 GW of operational solar PV and battery storage capacity, with 3.7-3.8 GW under construction or contract, and a near- and mid-term development pipeline exceeding 12 GW. The company aims to surpass 10 GW of operating capacity by 2030. Earlier in 2025, its Clearloop subsidiary signed a multi-year agreement with Microsoft for up to 100 MW of community solar projects in Arkansas and Louisiana. The investment enables Silicon Ranch to execute premium project locations and deliver high-quality assets to diverse customers. |
| Jan 2023 | Undisclosed stage | Mountain Group Capital; Manulife Investment Management; TD Asset Management | $375M | Silicon Ranch Corporation, founded in 2011 and based in Nashville, Tennessee, is one of the largest independent power producers in the US, providing customized renewable energy, carbon, and battery storage solutions across North America. The company develops, owns, operates, and maintains solar PV plants, with a portfolio exceeding 5 GW of solar and battery energy storage systems that are contracted, under construction, or operating across the US and Canada as of early 2023. In December 2022, Silicon Ranch closed $375 million in equity funding led by existing shareholders including Manulife Investment Management, TD Asset Management, and Mountain Group Partners, with an additional $225 million expected to fund in early 2023, totaling a $600 million equity raise. This followed a $775 million equity raise in early 2022 led by Manulife, bringing total equity capital raised in 2022 to over $1 billion. Shell remains the single largest shareholder after acquiring a ~44% stake in 2018, with other investors including Partners Group via junior debt. The funds support engineering, procurement, and construction for its contracted pipeline, operation and maintenance of over 150 PV plants across 15 US states, team expansion, and development of projects in new markets. In 2022, Silicon Ranch installed nearly 700 MW across 11 utility-scale facilities, added a record 1.1 GW to its development pipeline, signed a 4 GW module supply deal with First Solar for 2023-2025, and supplied 720 MW to Meta in Georgia and Tennessee. The company emphasizes community impact through investments in rural areas and long-term ownership of projects. |
| Jan 2022 | Undisclosed stage | Manulife Investment Management (lead); Shell; Mountain Group Capital; Greystone Managed Investments | $775M | Silicon Ranch Corporation is a Nashville-based independent power producer specializing in utility-scale solar projects, owning and operating facilities across the US and Canada under a regenerative agriculture model. In January 2022, it raised $775 million in equity funding led by Manulife Investment Management (~$400M commitment), with participation from Greystone Managed Investments, Mountain Group Capital, and Shell, following a $225M raise in December 2020; this brought total new equity to over $1B in the prior year to fund growth including construction of its 4+ GW contracted solar and battery storage pipeline. The round supported Silicon Ranch's expansion after doubling operating capacity and growing its contracted portfolio by over 80% since the prior raise, including the acquisition of Clearloop for carbon solutions and entry into new markets. In 2022, the company commissioned a record 650+ MW of new solar capacity, crossed 5 GW of contracted projects, and secured contracts emphasizing US manufacturing. |
| Dec 2020 | Undisclosed stage | Shell; Mountain Group Capital; TD Asset Management | $225M | - |
| Mar 2019 | Undisclosed stage | - | $60M | - |
| Jan 2018 | Strategic investment | Partners Group (lead); Shell (lead) | - | Partners Group agreed to sell its 43.83% stake in Silicon Ranch, a United States solar developer, owner and operator, to Shell. Proceeds were set at a minimum of USD 193 million and up to USD 217 million depending on the company hitting predetermined milestones. Partners Group continued to support Silicon Ranch through a newly issued junior debt financing arranged to close alongside the sale. Founded in 2011 and based in Nashville, Silicon Ranch was among the fastest-growing independent solar businesses in the country. |
| Jan 2017 | Undisclosed stage | Partners Group (lead); Greystone Managed Investments | $55M | Silicon Ranch Corporation is a Nashville-based developer, owner, and operator of utility-scale solar energy facilities across the US. In April 2016, Partners Group led a USD 100 million equity investment, joined by existing investors including Greystone, making Partners Group the largest shareholder to support portfolio expansion. This was followed by a January 2017 equity raise exceeding USD 55 million, also led by Partners Group, contributing to over USD 165 million in new equity capital raised during 2016 overall. The 2017 round enabled Silicon Ranch to scale its platform in the US solar market, capitalizing on strategic opportunities amid growing demand. By January 2018, the company had quadrupled its operating portfolio since Partners Group's initial investment, reaching approximately 880MW of contracted, under-construction, or operating solar PV systems across 14 states, plus nearly 1GW in development pipeline. Partners Group sold its 43.83% stake to Shell for minimum USD 193 million (up to USD 217 million based on milestones), while providing junior debt financing. Silicon Ranch continued growth post-sale, closing a USD 225 million equity round from existing shareholders including Shell, TD Greystone, and others to fund over 1GW of new solar projects, enter new markets, and pursue acquisitions, expanding its portfolio to over 2.5GW across more than 15 states. |
| Apr 2016 | Undisclosed stage | Partners Group (lead); Greystone Managed Investments | $100M | Silicon Ranch Corporation is a Nashville-based developer, owner, and operator of solar energy facilities across the US, founded in 2011. On April 27, 2016, it completed a $100 million equity private placement led by Partners Group, with participation from existing investors including Greystone Managed Investments, to fund growth projects, new market entry, and acquisitions. Stephens Inc. acted as the exclusive financial advisor. The investment positioned Partners Group as Silicon Ranch's largest shareholder post-round. By 2018, the company had grown to approximately 880MW of contracted, under construction, or operating solar PV systems across 14 states, plus nearly 1GW in development pipeline, quadrupling its portfolio since the Partners Group investment. |
| Aug 2014 | Seed | - | $4M | - |
Who has invested in Silicon Ranch?
7 investors have backed Silicon Ranch across its funding rounds, including Partners Group, Mountain Group Capital, Shell, Greystone Managed Investments, Manulife Investment Management and TD Asset Management.
Lead investors include AIP Management, Manulife Investment Management, Partners Group and Shell.
Silicon Ranch Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 London | 3 | Lead | Jan 2018 | |
| Nashville, TN | 3 | Participant | Dec 2020 | |
 Regina | 3 | Participant | Apr 2016 | |
 Switzerland | 3 | Lead | Apr 2016 | |
| Toronto | 2 | Lead | Jan 2022 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Silicon Ranch
Silicon Ranch has acquired 1 company to date.
Last acquisition by Silicon Ranch was on October 14th 2021. Silicon Ranch acquired Clearloop for undisclosed valuation.
Latest Acquisitions by Silicon Ranch
| Description | Clearloop is a Boston-based clean energy company that develops community solar projects to offset corporate carbon emissions while serving underserved US grids. Since 2020, it has financed 100 megawatts of solar capacity in states like New York and Illinois, partnering with National Grid and Eversource. Clearloop's model allocates clean energy credits to subscribers like Google and Salesforce, generating 200,000 renewable certificates annually and supporting 50,000 low-income households. |
| HQ Country | |
| HQ City | Nashville, TN |
| Deal Date | 14 Oct 2021 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
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Investments by Silicon Ranch
Silicon Ranch has invested in 1 company to date.
Latest investment by Silicon Ranch was on June 3rd 2025. Silicon Ranch invested in Swap Robotics in their $3M Strategic investment round.
Latest Investments by Silicon Ranch
| Description | Swap Robotics is an Austin-based developer of autonomous electric robots for solar farm construction and maintenance. Its platforms, weighing between 4,000 and 6,000 pounds, perform solar panel installation, materials handling for pallets and beams, and vegetation management through grass cutting. The robots address labor shortages in engineering, procurement, and construction phases as well as operations and maintenance over project lifecycles. Swap Robotics targets utility-scale solar projects in the United States and Europe to support rapid grid deployment for data centers and AI infrastructure. |
| HQ Country | |
| HQ City | Kitchener |
| Deal Date | 3 Jun 2025 |
| Round | Strategic investment |
| Raised | $3M |
| Investors | - |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
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Silicon Ranch Competitors
Silicon Ranch competitors include listed companies like Vistra, Enlight Renewable Energy and Sunwoda Electronic Co, and private ones like Base Power, Northvolt and Farasis Energy.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| United States | Publicly listed | $18B | $5B | $48B | 3.3x | |
| Austin, TX | Private | - | - | $13B | - | |
 Stockholm | Private | - | - | $12B | - | |
 Israel | Publicly listed | $582M | $461M | $11B | - | |
 China | Publicly listed | $9.4B | $388M | $5.6B | 0.8x | |
| Ganzhou | Private | - | - | $4.2B | - |
Silicon Ranch Public Comps
Silicon Ranch is still privately-owned, but its public comps include Tesla, GE Vernova, CATL, Iberdrola, China Yangtze Power, Constellation Energy, LG Energy Solution, Vistra, ACWA Power and Vestas.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $95B | $10B | 15.0x | 13.8x | 140.8x | 97.4x | |||
| $38B | $3.2B | 6.2x | 5.4x | 73.5x | 43.5x | |||
| $63B | $16B | 2.8x | 2.1x | 11.0x | 9.2x | |||
| $51B | $17B | 4.4x | 4.3x | 13.2x | 11.8x | |||
| $13B | $11B | 11.4x | 11.3x | 13.9x | 14.4x | |||
| $26B | $5B | 4.6x | 3.8x | 23.5x | 15.3x | |||
| $17B | $3.4B | 4.8x | 3.9x | 24.1x | 22.2x | |||
| $18B | $5B | 4.0x | 3.3x | 13.9x | 10.2x | |||
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Common questions about Silicon Ranch
| When was Silicon Ranch founded? | Silicon Ranch was founded in 2011. |
| Where is Silicon Ranch headquartered? | Silicon Ranch is headquartered in Nashville, TN, United States. |
| Is Silicon Ranch publicly listed? | No, Silicon Ranch is a private, VC-backed company. |
| How much funding has Silicon Ranch raised? | Silicon Ranch has raised $2.1B across 10 funding rounds. |
| What was Silicon Ranch's last funding round? | Silicon Ranch's last funding round was a $8M undisclosed-stage round in May 2026. |
| Who are Silicon Ranch's investors? | Silicon Ranch's investors include Shell, Mountain Group Capital, Greystone Managed Investments, Partners Group, Manulife Investment Management, TD Asset Management and AIP Management. |
| Which companies are comparable to Silicon Ranch? | Companies comparable to Silicon Ranch include Vistra, Base Power, Northvolt, Enlight Renewable Energy, Sunwoda Electronic Co and Farasis Energy. |
| How many companies has Silicon Ranch acquired? | Silicon Ranch has acquired 1 company, including Clearloop. |
| How many companies has Silicon Ranch invested in? | Silicon Ranch has invested in 1 company, including Swap Robotics. |
| What was Silicon Ranch's last investment? | In June 2025, Silicon Ranch invested in Swap Robotics' $3M strategic investment round. |
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