Agilitas Energy raises US$350m to fund 500MW US solar, storage platform

In the next three months, US developer Agilitas expects to acquire 45MW of solar and storage capacity across four US states. Image: Unsplash.

US solar and storage developer Agilitas Energy has raised US$350 million of equity investment from fund manager CarVal Investors.

Investment could be further raised up to US$650 million upon completion of certain projects and will accelerate the development of more than 500MW of distributed and utility-scale solar PV and energy storage projects in the US.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Funds managed by CarVal have assumed a minority position in the developer and both companies have formed a joint venture (JV) to own and operate theassets, with Agilitas developing them.

In the next three months, the newly formed JV expects to acquire 45MW of capacity split between eight projects in different stages located in the northeast US states of Massachusetts, Rhode Island, Maine and New Hampshire.

Barrett Bilotta, president of Agilitas Energy, said: “With our experienced management team, existing project pipeline and organizational expertise combined with the support of CarVal, we’re well positioned to expand nationally and help make a dent in our country’s decarbonization goals. CarVal adds significant value beyond their capital.”

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
May 1, 2024
Dallas, Texas
Solar Media Events
May 21, 2024
Sydney, Australia