SoftBank-Backed SB Energy Seeks at Least $500 Million (1)

SB Energy, a renewable energy company backed by Ares Management Corp. and SoftBank Group, is exploring raising at least $500 million in growth capital, according to people with knowledge of the matter.

The effort may feature equity, debt or a mix of the two, said one of the people who requested anonymity because the matter is confidential. SB Energy is working with advisers, who soon may begin soliciting interest from investors, some of the people said.

A spokesperson for SB Energy declined to comment.

SB Energy, founded in 2019 and based in Redwood City, California, is led by ...