Solar Market Leader MN8 Energy Files Again for IPO

wealthofgeeks.com

While storm clouds have gathered over tech and other sectors during the past year, renewable energy has become a bright spot on the investing map.  

Those looking to soak up the sunny potential of solar will be glad to know MN8 Energy, one of the largest renewable energy companies in the U.S., is moving further down the initial public offering (IPO) pipeline.

MN8 made a filing with the Securities and Exchange Commission (SEC) on January 5. It did not announce a date for the launch in the submitted paperwork but plans to list on the New York Stock Exchange (NYSE) under the ticker “MNX.” 

The firm did not disclose numbers regarding total units on offer or initial pricing, yet estimates of the deal size have it at the typical placeholder sum of $100 million. This is not the first MN8 filing, however.

Formerly known as “Goldman Sachs Renewable Power,” the company filed confidentially in early 2021 under another name before officially filing its S-1 as “MN8 Energy, Inc.” on September 12, 2022.

It filed an S-1/A on November 9, 2022, without disclosing terms for the deal, according to a Renaissance Capital briefing.  Founded within Goldman Sachs in 2017, MN8 focuses on delivering solutions for enterprises embarking on their “multi-decade decarbonization journeys.”

It has an expanding fleet of over 850 solar projects in five regions across the United States, generating a total of 2.6 Gigawatts.

One of the latest examples of MN8's client projects is from German automaker Mercedes Benz. Speaking at tech conference CES in Las Vegas last week, Mercedes announced it would roll out a new self-branded global charging network for its electric vehicle models

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