CleanCapital takes over BQ Energy with 1-GW solar pipeline

Homer Street solar project in New York. Source: BQ Energy.

June 29 (Renewables Now) - Clean energy investment platform CleanCapital has taken over BQ Energy (BQE), a renewables developer with a gigawatt-scale pipeline of solar projects in the US.

CleanCapital did not reveal how much it paid for the acquisition but said it will fund the development of projects in BQE’s substantial long-term pipeline.

Founded in 2002, BQE develops community solar, commercial & industrial (C&I) solar and utility-scale solar projects on landfills and retired industrial sites. It has more than 300 MW in late-stage solar projects and over 700 MW in mid-stage solar developments.

“With CleanCapital’s financial backing, our development team can focus on what they are great at—rather than raising capital piecemeal, we can get more brownfield solar projects developed and built,” commented Paul Curran, CEO of BQ Energy.

CleanCapital itself has successfully acquired and managed some 200 projects in 24 states with a combined capacity of more than 300 MW to date, but since early 2021 it has also been involved in the development of construction of solar and storage assets.

Last year, the platform got a USD-300-million (EUR 285m) commitment from Manulife Investment Management.

(USD 1 = EUR 0.951)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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