Panasonic ups stake in solar-focused firm Coronal

Solar array. Author: Som Energia Cooperativa. License: Attribution 2.0 Generic.

September 12 (SeeNews) - Panasonic Enterprise Solutions Co, part of Japanese electronics major Panasonic Corp’s (TYO:6752) North American arm, has increased its stake in renewables partner Coronal Group LLC.

Coronal announced the transaction on Monday, without disclosing the exact size of the stake that was acquired by Panasonic. The firm said that, at the same time, it has changed its name to Coronal Energy.

The two firms have been collaborating in the renewable energy sector for four years now. Coronal Energy offers solar photovoltaic (PV) and battery energy storage solutions for enterprise clients across North America, including utilities, corporations, the public sector, educational institutions and other organisations.

The company’s current portfolio includes projects in 40 US states with a combined capacity of about 2.3 GW. It has over 3.4 GW of additional greenfield and brownfield projects under construction or in development.

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