Scale Microgrids acquires 23 operating solar projects to expand portfolio
Scale Microgrids has acquired a portfolio of distributed generation solar projects from a leading solar asset owner. The portfolio of operating assets consists of 13 ground-mount and rooftop solar projects, across 23 sites.
Through this geographically diverse acquisition made in the fourth quarter 2022, Scale Microgrids will now own and operate assets in New Jersey, Colorado, North Carolina, Oregon, Pennsylvania, Delaware and expand its portfolio in California.
“This acquisition adds diversification to our operating asset base, accelerates customer acquisition and opens several new markets,” said Julian Torres, chief investment officer at Scale Microgrids. “Additionally, it will contribute to our company’s vision of powering the world with distributed energy.”
The deal adds to Scale’s growing portfolio of green, behind-the-meter assets, providing value to a diverse range of customers including large corporations such as FedEx, as well as higher education institutions including Colorado State Pueblo University.
The transaction was executed through LevelTen Energy’s Asset Marketplace, a platform that connects clean energy project developers and financiers and provides the software, analytics and M&A expertise they need to execute transactions quickly.
“With this large portfolio of projects, Scale Microgrids is continuing to bring more sustainable, reliable and affordable power to the grid, and LevelTen Energy is excited to have assisted in through providing the connection that made the acquisition possible with our Asset Marketplace,” said Patrick Worrall, VP of Asset Marketplace for LevelTen Energy.
New Jersey-based Scale Microgrids is a vertically integrated distributed energy platform, with a core focus of designing, building, financing, owning and operating distributed energy assets that offer cheaper, cleaner and more resilient power. Their team of energy and financing experts accelerate growth in distributed energy projects by providing financing to technology providers, energy developers and OEMs, while also directly helping large energy-consuming customers to take charge of their energy infrastructure and future-proof their businesses.
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