CDPQ and Nuveen Provide $650 Million Credit Facility to Redaptive
Redaptive, a leading Energy-as-a-Service (EaaS) provider, today announced the successful closing of a $650 million (CAD 903 million) credit facility from CDPQ, a global investment group, and Nuveen, the investment manager of TIAA. This facility strengthens Redaptive’s ability to scale its innovative platform, meet accelerating customer demand, and deliver measurable business value through energy efficiency, renewable generation, and data-driven building performance.
Redaptive can now expand its investment in physical asset infrastructure across large enterprise portfolios, enabling customers to reduce operating costs, enhance resilience, and meet long-term business growth and sustainability goals—all without the end users’ upfront capital or added operational complexity. Redaptive’s platform combines flexible finance structures, AI-powered insights, and proprietary metering technology to turn energy and infrastructure into a strategic engine of efficiency and performance.
“This new credit facility is a vote of confidence in both our team and our mission,” said Matt Gembrin, CFO of Redaptive. “Enterprises are under increasing pressure to modernize their infrastructure while staying financially agile. Our model continues to prove that you don’t have to choose between operational efficiency, capital discipline, and sustainability—you can achieve all three.”
$650M Credit Facility from CDPQ and Nuveen to Accelerate Energy Optimization Initiatives
Redaptive will leverage this capital to continue its support of enterprise customers with data-driven efficiency and energy generation programs, including HVAC, LED lighting, solar, storage and metering solutions, and other upgrades that can be deployed at large-scale multi-site portfolios. This additional financing will enable Redaptive to expand its reach, increase project deployments, and further develop its solutions across the U.S., Canada, and certain European jurisdictions.
“Redaptive is a leader in helping their clients adopt energy and power solutions that reduce energy costs and consumption, while changing how industries approach sustainability," said Don Dimitrievich, Head of Nuveen's Energy Infrastructure Credit business. "Our investment reflects our confidence in Redaptive’s ability to scale their business, while reducing carbon emissions globally.”
A Strategic Leap Toward Sustainability, Resilience, and Results That Scale
The new facility from CDPQ and Nuveen underscores Redaptive’s ability to drive meaningful progress toward decarbonization while enabling customers to build more resilient and efficient operations. Redaptive continues to set benchmarks in energy efficiency, sustainability innovation, and scalable energy solutions for their customers through their Energy-as-a-Service solution and the Redaptive ONE data platform. With this latest support, Redaptive is poised to accelerate the deployment of its platform across new markets and solution categories, continuing to build momentum as the trusted infrastructure partner for enterprises navigating the energy transition.
“CDPQ and Nuveen are both valued partners in our journey, and we are grateful for their trust in Redaptive’s vision,” said Arvin Vohra, CEO of Redaptive. “This additional support from both global investors allows us to scale our impact, bring our programmatic solutions to more customers, and accelerate the transition to a more sustainable future.”
Recently, Redaptive’s Energy-as-a-Service offering was recognized as a “Top Product of the Year” in the prestigious E+E Leader Product & Project Awards. Judges recognized Redaptive as an outstanding example of innovation in the sustainability and infrastructure sector.
To learn more, please visit redaptive.com.
About Redaptive
Redaptive is a leading Energy-as-a-Service provider enabling Fortune 500 commercial and industrial enterprises to turn real asset infrastructure into a strategic engine for growth and efficiency—bringing together capital, intelligence, and performance. Founded in 2015 and headquartered in Denver, Colorado, Redaptive funds and deploys energy-saving and energy-generating systems across large, distributed real estate portfolios. Its programs help enterprises reduce energy waste, lower carbon emissions, and optimize operating costs—supporting broader business objectives such as operational resilience, financial performance, and long-term sustainability. Through flexible financing structures, asset performance optimization, and AI-driven intelligence, Redaptive empowers organizations to scale energy-efficient solutions faster and smarter. For more information, visit Redaptive.com.
About Nuveen
Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $1.3 trillion in assets under management as of 31 Dec 2024 and operations in over 32 countries. Its investment specialists offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. For more information, please visit www.nuveen.com.
What does Redaptive do and why is CDPQ teaming up with Nuveen to lend it $650 million in a credit facility?
Redaptive is actually an interesting company that helps other companies be more energy efficient:
Redaptive simplifies the complexity by providing a fully funded, end-to-end sustainability solution.
Individualized programs accelerate your organization’s objectives to save money, build resiliency and meet your ESG goals—with the data to back it up. We provide the funding, expertise, resources and management needed to implement energy efficiency and sustainability installations across multiple sites simultaneously. This frees up capital and resources to focus on your core business.
Basically, Redaptive helps companies become more energy efficient at scale and then helps them collect data for reporting and measuring efficiencies.
In doing so, Redaptive allows companies to meet and track their sustainability goals and that's why it plays a critical part in the ESG value chain.
CDPQ and Nuveen, the investment manager of TIAA, have teamed up before to provide credit for similar transition economy/ sustainability ventures.
Recall in October 2024, they teamed up to launch a $600M sustainable commercial real estate JV to finance the transition economy in commercial real estate as the demand is strong and growing.
Note that Redaptive funds and deploys energy-saving and energy-generating systems across large, distributed real estate portfolios so it is likely part of this joint venture.
Florestan Ferroux, Senior Director Infrastructure Debt at CDPQ posted this on LinkedIn:
Alright, let me wrap it up there, another great financial deal with Nuveen that will help CDPQ meet and exceed its sustainability objectives and enhance its risk-adjusted returns.
Below, what is Energy-as-a-Service? Also known as EaaS, Energy-as-a-Service gives customers access to energy management services without upfront costs. Redaptive offers a customized, turnkey solution that funds and installs energy-saving and energy-generating equipment. This helps organizations achieve energy and financial savings faster with speed-to-scale implementation–whether it’s for a building, a campus, or an entire real estate portfolio. Plus, our proprietary meters and data platform collect asset-level insights for ESG reporting.
Also, listen to this great interview from Arvin Vohra, CEO of Redaptive, Inc with Kristen Scholer at the NYSE where they discuss this landmark collaboration and its exciting implications for the future of energy infrastructure (h/t,Florestan Ferroux).
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