Solar energy company Silicon Ranch raises $775 million

Axios on facebookAxios on twitterAxios on linkedinAxios on emailA Silicon Ranch solar facility. Photo courtesy of Silicon RanchSilicon Ranch, the solar energy company founded by former Gov. Phil Bredesen, announced Thursday it has raised $775 million in new equity capital.Manulife Investment Management committed a $400 million investment.Why it matters: Silicon Ranch has emerged as a major force in the energy industry with more than 150 solar-generating facilities in 15 states that they own, operate, and maintain themselves.Last fall, Silicon Ranch acquired clean technology firm Clearloop.What he’s saying: In a press release touting the investment, Silicon Ranch co-founder and CEO Reagan Farr — a former aide to Bredesen — says society is “still in the early stages of global energy transition.””This significant capital raise positions Silicon Ranch to play an important role in…

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