Scale Microgrids Acquires 23 Operating Solar Projects, Adding to Expanding Portfolio
RIDGEWOOD, N.J.–(BUSINESS WIRE)–In Q4 2022, Scale Microgrids (“Scale”) 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, Scale 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. Additionally, it will contribute to our company’s vision of powering the world with distributed energy.” said Julian Torres, Chief Investment Officer at Scale Microgrids.
With this acquisition, Scale adds to its 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 transaction 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, Vice President of Asset Marketplace, LevelTen Energy.
About Scale Microgrids
Scale is a vertically integrated distributed energy platform, with a core focus of designing, building, financing, owning and operating cutting-edge 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. To learn more about Scale Microgrids visit https://www.scalemicrogrids.com/
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