New Project Media

INTERVIEW: Nexamp CEO details plans on utility-scale expansion

“Nexamp is looking to scale up its utility-scale business in a meaningful way in 2022 off a recent strategic hire and two successful rounds of capital raise.

The Boston-based developer has built up a huge book of business in community solar and C&I projects. However, this past year, it recruited former ENGIE Solar managing director Marc-Alain Behar to head up its utility-scale expansion efforts. Separately, it also raised USD 680m in capital through two separate transactions.

Nexamp is expected to lean on its core markets and its large corporate customers as initial drivers for its plans, but geographic expansion will also be in the cards.

“We’re seeing the need from large corporate customers that are interested in not only community solar but utility scale. We see synergies with what we have built and, in our sales, where we have this disconnected tissue with large energy buyers. So why wouldn’t we do this?” said Nexamp CEO Zaid Ashai in an interview with NPM.

One of these corporates, Walmart, closed a massive agreement with Nexamp back in August that contracted for 129 MW of energy from 23 separate community solar projects.

Nexamp plans to start out in its core markets such as Maine, Maryland, Massachusetts, New York, and Rhode Island. It has also begun branching out into Illinois and Georgia.”

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https://newprojectmedia.com/news/interview-nexamp-ceo-details-plans-on-utility-scale-expansion

INTERVIEW: Nexamp CEO details plans on utility-scale expansion — New Project Media Nexamp is looking to scale up its utility-scale business in a meaningful way in 2022 off a recent strategic hire and two successful rounds of capital raise.

M&A: Utility-scale battery storage developer esVolta hires Citi to run sales process


“Utility-scale battery storage developer esVolta has retained Citi to consider strategic alternatives, said three sources familiar with the situation.

Macquarie’s Green Investment Group (GIG) made an investment in the Aliso Viejo, California-based developer in January. The transaction resulted in New York-based RBP Partners, LLC remaining a substantial shareholder in the business.

RBP hired Citi to exit is remaining equity in the business, but GIG has some level of control including tag along rights for its common stock and a make whole provision on its preferred interest, added one of the sources.

The process launched in late October when teasers were distributed, and first-round bids are expected likely by the end of the year.”

Learn about tomorrow’s M&A deals, today on NPM. To access all of our proprietary coverage of live M&A situations, contact us here https://newprojectmedia.com/sign-up



https://newprojectmedia.com/news/utility-scale-battery-storage-developer-esvolta-hires-citi-to-run-sales-process

Utility-scale battery storage developer esVolta hires Citi to run sales process — New Project Media Utility-scale battery storage developer esVolta has retained Citi to consider strategic alternatives, said three sources familiar with the situation.

NPM is wrapping up its tour of Phoenix this week for !

Today's lineup includes the topic, Hybrid Storage and Generation featuring industry experts from Enel North America, Grid Strategies LLC, and Convergent Energy + Power.

The Next Decade of Energy Storage will focus on the technology, policy, and finance trends shaping the next decade of energy storage. Features Microsoft, PlusPower, and more.

If you are attending and would like to arrange an interview with one of our reporters, contact us in the conference app.

NPM is in Phoenix this week for ! We’re excited to be part of the discussion and looking forward to the in-person networking. If you would like to arrange an interview with one of our reporters, contact us in the conference app.

OMERS acquisition of Navisun from Ares adds DG exposure following utility-scale deal with Leeward

“The deal will add to OMERS Infrastructure’s portfolio of renewable generation assets, which also includes Leeward Renewable Energy, LLC and a 19.4% stake in India-based independent power producer Azure Power Global Limited - a deal that happened earlier this year.

OMERS investment in Navisun adds diversification and offers new opportunities for OMERS in the U.S. renewables market,” said Annesley Wallace, Global Head, OMERS Infrastructure in an emailed statement to NPM. “With Texas-based Leeward Renewable Energy giving OMERS exposure to utility-scale renewables generation, and Navisun giving us a presence in distributed renewables generation, we have two well-positioned platforms to help us further invest in the energy transition theme,” she added.

The transaction is expected to close 1Q22, subject to regulatory requirements.

Navisun is among many smaller-to-middle market sized developers that could become attractive targets as infrastructure funds and others cast a wider net to invest in renewable developers beyond the largest players in the space, according to comments made by panelists at the Platts US Power Conference held last month.

Navisun was founded in January 2017 by John Malloy and Doug Johnsen, former executives at Greenwood Energy, in partnership with Ares Capital Corporation (ARCC), a publicly-listed business development corporation (BDC), which is externally managed by Ares Management Corporation.”

Institutional and pension funds are becoming increasingly sophisticated in how they target M&A opportunities to build on existing portfolio investments. Learn about the latest behind-the-scenes deal activity by accessing NPM here https://newprojectmedia.com/sign-up



https://newprojectmedia.com/news/omers-acquisition-of-navisun-from-ares-adds-dg-exposure-following-utility-scale-deal-with-leeward

OMERS acquisition of Navisun from Ares adds DG exposure following utility-scale deal with Leeward — New Project Media The deal will add to OMERS Infrastructure’s portfolio of renewable generation assets, which also includes Leeward Renewable Energy and a 19.4% stake in India-based independent power producer Azure Power Global Limited - a deal that happened earlier this year.