Grasshopper closes $48m financing deal for U.S. solar expansion


Grasshopper Energy, a renewable energy developer with $1.8 billion in assets and offices in Toronto, Tokyo, and New York, has secured $48 million in financing with Cincinnati’s Fifth Third Bank.

The investment is intended to support four Grasshopper projects in Massachusetts that include large-scale solar-plus-battery energy storage.

Grasshopper handles acquisition and development, legal and regulatory, corporate financing, project management, and asset management for large-scale renewables projects.

Grasshopper said it has a development pipeline of over $6.5 billion, and is focusing on development opportunities in Pennsylvania, New Jersey, and New York. The company also targets international markets, with plans to develop solar in Brazil, Italy, Vietnam, and Australia.

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