Independent power producer (IPP) Catalyze has acquired commercial and industrial (C&I) solar developer Sol Alliance, expanding its presence in the northeast of the US and taking on an 80MW project development pipeline in the process.
Adding to its purchase of California-based developer PermaCity earlier this year, the deal will provide Catalyze with greater origination resources and deeper solar development capabilities in key markets such as New York and New Jersey, the company said.
Following a collaboration that has already seen the two companies work together for more than a year on project development and acquisition, the deal will give Sol Alliance access to Catalyze’s origination-to-operations software integration platform, REenergyze, and its proprietary rooftop solar panel mounting technology.
Catalyze CEO Steve Luker said the transaction builds on the company’s plan to expand by acquiring regional distributed solar development firms “that bring a wealth of in-depth knowledge of the local landscapes and introduce synergies to a highly fragmented industry”.
Headquartered in Colorado, Catalyze develops, constructs, owns and operates renewable distributed generation and storage projects. The IPP also acquired battery storage provider Prisma Energy Solutions earlier this year.