$100 million donation from immigrant-turned-self-made billionaire philanthropist Michael Polsky to university will boost global clean energy transition
In a major philanthropic move, the World Resources Institute (WRI) and the University of Chicago have received a combined $100 million donation to accelerate the global transition to clean energy.
The donation by philanthropist Michael and Tanya Polsky will address key barriers to clean energy adoption, expand access to reliable and affordable power, and cultivate the next generation of energy leaders.
Of the total contribution, $75 million has been awarded to WRI, a global nonprofit focused on sustainable resource management.
These funds will support initiatives that help communities overcome economic, policy, and technological challenges that hinder the widespread deployment of clean energy systems. WRI’s work spans multiple countries, assisting governments, businesses, and local communities in designing and implementing solutions that enable equitable access to renewable energy.
The University of Chicago will receive the remaining $25 million to invest in education and research programs that prepare future leaders in clean energy.
The funding will support academic initiatives, fellowships, and partnerships focused on advancing innovative energy solutions and policy frameworks that drive the transition away from fossil fuels. The university aims to foster breakthroughs in renewable energy technology and implementation strategies by equipping students and researchers with the necessary knowledge and tools.
The donation is critical as nations worldwide intensify efforts to reduce carbon emissions and combat climate change. The clean energy transition is a cornerstone of global climate action, but many communities, particularly in developing regions, continue to face significant obstacles in adopting sustainable energy solutions.
Leaders from both institutions expressed their gratitude for the transformative donation, emphasizing its potential to accelerate progress toward a cleaner and more sustainable future.
“This funding will empower communities to access the resources and support they need to build resilient, clean, and affordable energy systems,” said Ani Dasgupta, President and CEO of WRI. “We are committed to ensuring no community is left behind in the global energy transition.”
Likewise, University of Chicago officials highlighted the importance of investing in human capital to drive energy innovation. “Training the next generation of clean energy leaders is essential to ensuring that our global energy future is both sustainable and equitable,” said University President Paul Alivisatos. “This generous donation enables us to expand our research and educational initiatives, preparing students to tackle the world’s most pressing energy challenges.”
The significant investment underscores the growing philanthropic interest in climate solutions and clean energy advancements.
As governments, businesses, and nonprofits continue to collaborate against climate change, strategic investments will play a crucial role in shaping a sustainable energy landscape for future generations.
Michael Polsky, founder and CEO of Invenergy, is a prominent entrepreneur in the clean energy sector.
He has donated over $50 million to the University of Chicago, including $35 million in 2016 to expand the Polsky Center for Entrepreneurship and Innovation, which supports startups and innovation in diverse fields.
Polsky is also recognized for his previous contributions to renewable energy initiatives, such as a $1 million gift to the World Resources Institute to promote clean energy access. His success in the energy industry has made him a billionaire and a key figure in advancing sustainable energy solutions.
Michael P. Polsky earned his MSME from Kiev University Polytechnic Institute in 1973 and his MBA from Chicago Booth in 1987.
As an Evening MBA student, Polsky cofounded Indeck Energy Services, a company that built power plants on the East Coast.
As a one-man, one-office business, Polsky secured all the power purchase and steam sales agreements upon which Indeck built its success.
Within five years, Polsky had built the business into a nationally recognized company with over 100 employees and four plants in operation.
Under his leadership, Indeck rose to the top of the independent power producers, earning the rating of one of the 100 fastest-growing companies in the United States by Inc. magazine.
In 1990, he founded Polsky Energy (later renamed SkyGen Energy); developed major power plants in Nova Scotia, Wisconsin, and Maine; and quickly became one of the country’s most successful power plant developers.
After selling SkyGen to Calpin in 2000, Polsky founded Invenergy, a developer and acquirer of power generation, transmission facilities, and industrial energy assets in North America.
Michael Polsky’s current net worth is $2.5 billion. His wealth has grown significantly over the years, from $1.6 billion in November 2023 to the current $2.5 billion.