Nexamp secures US$350 million financing from Macquarie

“Given rising electricity demand and the need for reliable, low-cost and homegrown power, we are seeing significant need for utility-scale solar and battery storage projects,” said Matthew Sweeney, managing director at MAM.  

“By enabling Nexamp to advance its 6GW utility-scale pipeline, this transaction positions the company to capitalise on the growing market demand and deliver sustainable, clean energy solutions at scale.” 

Boston, Massachusetts-based Nexamp expanded into the utility-scale solar sector in 2021. The company currently has over 1GW of solar power capacity operational or under development in the US and aims to support capex requirements for the construction of its 6GW utility-scale project pipeline.

Recently, Nexamp partnered with US tech giant Microsoft to develop around 100 distributed solar projects across the country, adding approximately 300MW of clean energy capacity. 

Additionally, the company closed a US$340 million private placement debt refinancing for a portfolio of distributed solar and energy storage projects in the US in April 2025. The portfolio included 39 solar farms across seven US states with a combined 150MW of solar PV capacity, while the energy storage portfolio consists of 37MWh capacity. The funds will be used over the next three years to support solar PV and storage projects across several US states. 

PV Tech publisher Solar Media will host the 12th edition of the Solar & Storage Finance USA event on 21-22 October 2025 in New York. Panellists will discuss the fate of US solar and storage in a post-subsidy world, the evolving economics of standalone BESS and de-risking solar and storage supply chains. Book your tickets for the event on the official website.