The auction for landfill gas-to-energy owner Cube District Energy has reached an advanced stage, said two sources familiar with the situation.

The Asheville, North Carolina-based company is said to be looking to raise a minority equity stake and/or secure mezzanine financing to support its project pipeline.

Generate just closed a USD 2bn capital raise to invest in distributed renewable markets, as well as other sectors such as mobility and water and wastewater.

Con Edison is one of the nation's largest investor-owned energy delivery companies, with approximately USD 12bn in annual revenues and USD 63bn in assets. In January, the utility issued a report detailing how it would incorporate climate change into its planning, design, operations, and emergency response.

The renewable energy industry is on track to deploy more than USD 1trn in capital investment by 2030. Wind, solar, and energy storage already set annual capacity addition records in 2020, with momentum building to meet the robust targets laid out by the Biden administration as part of the economy-wide Build Back Better plan to hit net-zero emissions by 2050.

Biden's recent climate action blitz also included measures to accelerate domestic production of battery technology, as well as jumpstarting historic investments in clean transmission infrastructure and large-scale renewables like offshore wind.

With that increased scale comes new challenges in a tax equity market that is already seeing widespread shortages, particularly for mid-sized and smaller developers.

TerraScale is developing a USD 3bn Energos Reno industrial park and data center that will eventually be powered by 100 percent renewable energy.