Strata gains origination, offtake expertise with Crossover buy
Solar module. Author: Oregon Department of Transportation. License: Creative Commons, Attribution 2.0 Generic.
November 15 (Renewables Now) - US utility-scale solar and battery storage provider Strata Clean Energy LLC has acquired Crossover Energy Partners, a clean energy transition solutions provider to utilities and large energy users.
Strata said on Tuesday the purchase will allow it to boost its capabilities with Crossover's customer origination and power offtake expertise.
Under the deal, whose details were kept confidential, Strata is buying 100% of Crossover's assets and interest in its development platform.
“The combination of our platforms will be valuable to Strata as we grow our development pipeline to over 15 GW this year,” commented Strata chief development officer Joshua Rogol. The acquisition will increase Strata’s ability to offer high-value energy solutions to customers across several market segments and geographies, Rogol also said.
Strata describes itself as a vertically integrated solar and storage development, engineering, procurement and construction (EPC) and operations and maintenance (O&M) company.
Crossover, based in Phoenix, Arizona, serves municipalities, co-ops, community choice aggregations (CCAs), investor-owned utilities (IOUs) and large industrial entities. Strata expects to leverage Crossover’s customer relationships to support its growth.