
Arcadia Power has closed on a US$25 million investment round that the company will now use to expand its outreach to consumers and offer its services. In addition, the company announced that it is developing 120MW of new community solar projects across the US.
This new community solar pipeline including 40 large-scale PV farms across 242 hectares of land will be built across the US. Energy produced by these installations will be utilised exclusively for Arcadia Power customers.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
In addition to expanding the utility’s footprint in the US, this new financing will also be used to hire more data scientists and software engineers that will help develop new ways to develop clean energy resources for Arcadia Energy’s clients.
Currently, Arcadia Power states that it manages 2TWh of annual energy demand.