Appointment of David Crane, Previous U.S. Department of Energy Official, as CEO of Generate Capital
David Crane, a seasoned energy executive with over two decades of experience in both corporate boardrooms and government agencies, has been appointed as the new CEO and Chairman of San Francisco-based Generate Capital.
Crane's most recent role was overseeing critical infrastructure programs at the U.S. Department of Energy, including investments tied to the Biden administration's climate and infrastructure agenda. His tenure as Under Secretary for Infrastructure at the U.S. Department of Energy comes to a close as he steps into his new role at Generate.
The leadership change at Generate comes at a pivotal moment for the energy transition, with governments worldwide pressing private capital to accelerate deployment of renewables, grid infrastructure, and low-carbon fuels. Crane's move back into the private arena is expected to position Generate as a bridge between government-backed funding and private capital eager to enter clean energy markets.
Crane's immediate focus will be on portfolio performance and scaling Generate's lending operations. His global board track record, which includes roles at JERA Co., Inc., Saudi Electric Company, ACWA Power, Tata Steel, and several publicly traded energy companies, adds a further layer of credibility for international partners looking to deploy capital into North America.
Generate's hybrid model, as both operator and capital provider, differentiates it from pure-play asset managers. The company aims to broaden its role as a financier while continuing to own and operate assets directly. This approach could provide investors with a diversified approach to infrastructure exposure, as Generate's ability to expand its credit platform while maintaining operational control of assets becomes evident.
For institutional investors, the appointment of Crane represents a signal of Generate's intent to compete aggressively in the sustainable infrastructure space. The appointment underscores the growing expectation that private infrastructure investors not only finance projects but also shape the direction of the global energy system.
The move highlights how talent from both government and industry is converging to address climate and infrastructure challenges. Richard Kauffman, former Chairman and current independent director of Generate, framed the transition as both continuity and change. He noted that Crane's experience at the DOE could help Generate navigate U.S. policy frameworks such as the Inflation Reduction Act.
Crane succeeds Scott Jacobs, who led Generate for more than a decade. The appointment of Crane signals a significant step for the firm, which is preparing for a period of expansion and heightened competition in clean energy markets. The search results do not provide information about the countries represented in Crane's global network as a board member of energy carriers, but his extensive experience is expected to bring valuable insights to Generate's global operations.
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. As Generate continues to expand, Crane's leadership is expected to play a crucial role in shaping the company's future and contributing to the global energy transition.
Read also:
- Tesla is reportedly staying away from the solid-state battery trend, as suggested by indications from CATL and Panasonic.
- Tesla's 37th week update: Stock remains steady, potential successor for Musk, unveiling of new megapack, fuel reveal delayed until IAA event
- Lieutenant Governor Kounalakis joins SoCalGas in unveiling the novel H2 Hydrogen Innovation Experience, a one-of-a-kind demonstration.
- Review of the 2025 Lamborghini Revuelto: Blazing Beasts on Wheels
