Hires David Crane, a former U.S. Department of Energy official, as new CEO for Capital company
New CEO Appointed at Generate Capital: David Crane Takes the Helm
San Francisco-based Generate Capital, a leading player in the sustainable infrastructure space, has announced the appointment of David Crane as its new CEO and Chairman. This change in leadership comes at a pivotal moment for the energy transition, with rising interest rates tightening financing conditions and governments worldwide pressing private capital to accelerate deployment of renewables, grid infrastructure, and low-carbon fuels.
Crane's career spans more than two decades across both corporate boardrooms and government agencies. Most recently, he oversaw critical infrastructure programs at the U.S. Department of Energy, including investments tied to the Biden administration's climate and infrastructure agenda. This experience could prove invaluable in navigating U.S. policy frameworks such as the Inflation Reduction Act.
Crane's global board roles include JERA Co., Inc., Saudi Electric Company, ACWA Power, and Tata Steel, adding a further layer of credibility for international partners looking to deploy capital into North America. The appointment is expected to make Generate more attractive to these partners, particularly those focused on advancing the energy transition. However, specific international partners are not named in the available information.
In his new role, Crane's immediate focus will be on portfolio performance and scaling Generate's lending operations. By leaning into credit products, Generate aims to meet investor demand for stable, income-producing assets in renewable markets. This diversified approach to infrastructure exposure could provide investors with a unique opportunity in an increasingly competitive clean energy market.
The appointment of Crane underscores the growing expectation that private infrastructure investors not only finance projects but also shape the direction of the global energy system. For C-suite leaders and policymakers, this move underscores the importance of private infrastructure investors in shaping the global energy system.
Richard Kauffman, former Chairman and current independent director of Generate, framed the transition as both continuity and change. He noted that while Crane brings a wealth of experience and expertise, he will also bring a fresh perspective to the company. The move highlights how talent from both government and industry is converging to address climate and infrastructure challenges.
Crane succeeds co-founder Scott Jacobs, who led Generate for more than a decade. The appointment of Crane represents a signal of Generate's intent to compete aggressively in the sustainable infrastructure space. The appointment of Crane signals a significant step for Generate, which is preparing for a period of expansion and heightened competition in clean energy markets.
As Generate moves forward under Crane's leadership, it remains committed to broadening its role as a financier while continuing to own and operate assets directly. This approach could provide a unique value proposition for investors seeking exposure to the sustainable infrastructure sector.
