California firm Coast Energy bags funds to boost C&I solar PPA platform
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US solar energy specialist Coast Energy Holdings LLC said on Thursday that it has received “a substantial growth investment” from Houston, Texas-based investment firm Crosstimbers Capital Group to expand its offering.
California-based Coast Energy focuses on the commercial and industrial (C&I) sector as a provider of solar power purchase agreements (PPAs). It said that it would use Crosstimbers’ investment to accelerate its commercial solar development and PPA financing platform.
The financial injection enables Coast Energy to boost its plans to develop, own and operate over USD 400 million (EUR 379.8m) worth of solar, energy storage and related energy projects across the US. The solar outfit said that it is currently securing projects in California, Hawaii and New York, and building a pipeline of projects in multiple states across the Northeast, Midwest and West Coast.
"Crosstimbers is excited to support Coast Energy as they advance the development of solar and energy storage projects across the commercial real estate market," commented Ian Kocher, a member of the Crosstimbers team. "Coast Energy is led by a seasoned team that has a tremendous track record in the industry, and they are building a best-in-class offering that will provide significant value to commercial real estate owners".
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