12 Dec J.P. Morgan invests in developer of solar and energy storage assets
J.P. Morgan has entered into an agreement that will provide a $200 million cash infusion to 8minutenergy Renewables, a developer of solar power and energy storage assets. The joint venture includes investment from 8minutenergy’s president and CEO, Tom Buttgenbach. The cash infusion will provide “the long-term focus and financial resources to enable us to unleash the full potential of our pipeline and incredibly talented team,” said Buttgenbach. “We’ve been very impressed with the 8minutenergy team and their ability to deliver sustainable returns through their utility-scale solar projects. 8minutenergy has a premier development process that consistently delivers attractive solar projects with long-term, contracted cash flows,” said Michael Lehman, Managing Director and Portfolio Manager of J.P. Morgan Asset Management.