Nexus partners for institutional financing of $100MM
Updated: Apr 18, 2023
Jan 11, 2022 - Scale Microgrid Solutions ("Scale") and Nexus Renewables ("Nexus") have entered into agreement whereby Scale will fund the development, construction, and acquisition of a $100 million (USD) portfolio of distributed grid-connected solar and battery energy storage projects across the United States.
This transaction adds to Scale's rapidly growing distributed solar and energy storage finance and acquisition pipeline across the United States.
"Partnering with Nexus Renewables on this project pipeline draws on the breadth of Scale's capabilities to provide flexible turn-key financing solutions at scale. This investment is in-line with our commitment to fund and acquire innovative energy infrastructure projects that provide resiliency and clean energy solutions in markets across the United States," said Julian Torres, Chief Investment Officer of Scale Microgrid Solutions.
This transaction marks a significant milestone for Nexus Renewables.
"Nexus Renewables prides itself as one of the best in identifying and serving underserved solar and energy storage market opportunities. The Nexus team demonstrates this strength through advancing construction-ready projects in multiple markets including New York, California, and Texas. Securing Scale as an institutional partner not only reinforces this core competency, but also provides continued access to capital to support rapid growth," said Keith Sandor, President of Nexus Renewables.
This announcement comes shortly after the closing of Scale's deal with Urban Energy, making up to $55 million of capital available to develop community solar in New York City and beyond.
About Scale Microgrid Solutions: Scale is a vertically integrated distributed energy platform, with a core focus of designing, building, financing, owning and operating cutting-edge distributed energy assets that offer cheaper, cleaner, and more resilient power. Their team of energy and financing experts accelerate growth in distributed energy projects by providing financing to technology providers, energy developers, and OEMs, while also directly helping large energy-consuming customers to take charge of their energy infrastructure and future-proof their businesses. Learn more at www.scalemicrogridsolutions.com
About Nexus Renewables: Nexus Renewables is a pure-play renewable development company. Nexus focuses on development-stage activities, advancing projects from concept to notice-to-proceed, partnering with more efficient capital providers to advance execution-stage activities to achieve commercial operation. For more information, visit www.nexusrenewables.ca.
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