MN8 Energy Holdings, backed by Ridgewood Infrastructure and Mercuria Energy, has agreed to acquire Greenbacker Renewable Energy Company for up to $375 million. MN8, a New York-based power platform, develops, owns, and operates energy assets. Greenbacker, also New York-based, owns a fleet of renewable energy assets across 22 states.

The acquisition aims to broaden MN8's geographic reach, particularly in the Midwest and Northeast, by integrating Greenbacker's operations. Jon Yoder, currently president and CEO of MN8, will continue in that role for the combined company. Dan de Boer serves as CEO of Greenbacker.

MN8 was originally spun out from Goldman Sachs Asset Management's renewable power group. The transaction, which is expected to close in the fourth quarter of 2026, positions the combined entity to lead in infrastructure development. J.P. Morgan Securities and Vinson & Elkins LLP are advising MN8, while Morgan Stanley, Wells Fargo, and Freshfields US LLP are advising Greenbacker.