Sol Systems’ new investor commits up to $1 billion to acquire shovel-ready projects
Sol Systems has received a significant minority investment from KKR to scale the company’s Impact + Infrastructure approach. The companies also announced a new strategic partnership in which KKR is committing up to $1 billion to acquire shovel-ready projects, helping fund Sol Systems’ development of contracted renewable energy and storage assets to meet North America’s growing sustainability needs.
“Over the last decade, our guiding principles have been to do good work with good people, and do what’s right for the communities we work in. We bring focus and discipline to delivering on these ideals,” said Yuri Horwitz, Co-Founder and Chief Executive Officer of Sol Systems. “In KKR, we have found an aligned organization and team that was excited to do this work with us, and is committed to accelerating and supporting our approach to investing in sustainable infrastructure with community impact. Looking ahead, we plan to dramatically scale the work we’re doing with our partners as we all transition to a more sustainable, resilient and equitable future.”
Established in 2008, Sol Systems combines renewable energy development, delivery, asset management and environmental commodity management into one unique infrastructure and impact offering. Sol Systems’ approach is specifically designed to enable customers to procure renewable energy and invest in sustainable infrastructure while creating dedicated income streams for under-resourced communities and communities disproportionately impacted by climate change. For example, Sol’s first of its kind Impact Power Purchase Agreement pairs the development of solar projects with community investment, habitat restoration and job creation opportunities in communities across the US. Through this approach, Sol Systems is enabling many of the world’s largest institutional, corporate and municipal partners to invest in and procure renewable energy while making a positive community impact.
“Sol Systems is a market-leading, integrated provider of truly differentiated sustainable energy solutions. Yuri and his team embody an approach to responsible investment that very much aligns with our own, and one that we are proud to be investing behind,” said Tim Short, Managing Director at KKR. “We look forward to helping grow the platform even further in response to the significant demand for thoughtful and customer-driven renewable energy offerings.”
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