Catalyze buys solar developer Sol Alliance to expand in US Northeast
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National independent power producer (IPP) Catalyze announced on Thursday the acquisition of Northeast solar sales and development firm Sol Alliance for an undisclosed sum.
The purchase gives Catalyze access to a deal pipeline that exceeds 80 MW of projects in development and also provides it with greater origination resources and improved development capabilities in key markets such as New York and New Jersey, the buyer said in a statement.
Following the takeover, Sol Alliance partners Stephen Owen and Jared Haines, along with vice president of operations Matthew Effler, will become part of the Catalyze team.
The move aligns with Catalyze’s plan to buy regional distributed solar development firms in order to grow its national presence. The company, which has the backing of energy investors EnCap Investments LP, Yorktown Partners LLC and Mercuria Energy, integrated California-based solar developer PermaCity and battery storage provider Prisma Energy Solutions earlier this year.