Texas-based independent power producer (IPP) Catalyze has secured US$85 million in tax equity investment to support the construction of 75MW of distributed solar projects in the US.
The funds come from investor RBC Community Investments, and will be used to support the construction of both commercial and industrial (C&I) and community solar projects this year. The investment will expand the company’s portfolio, which currently includes over 300MW of operating and under-construction assets, the largest of which is the 6.5MW Amherst community solar project in New York state.
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The majority of the company’s portfolio covers community solar projects, and two in Massachusetts are co-located with other technologies: the 252kW 66 Galen project, which is teamed with a 125kW storage system and 15 electric vehicle (EV) charging ports, and the 6.3MW Blackstone community solar project that is co-located with a 3MW storage facility.
“RBC is a valued financing partner, and we are pleased to further expand our relationship with this latest investment,” said Catalyze CEO Jared Haines. “This financing enables us to further our mission to bring scalable distributed generation projects to businesses and communities nationwide.”
The US community solar sector has seen increased attention in recent months, including project acquisitions from Altus Power completed last week. Figures from Wood Mackenzie and the Coalition for Community Solar Access (CCSA) show that a record 1.7GW of community solar was commissioned in the US in 2024, a 35% year-on-year increase, with the majority of new installations located in New York, Maine and Illinois.
PV Tech publisher Solar Media will be organising the fourth edition of Large Scale Solar USA in Dallas, Texas 29-30 April. After a record year for solar PV additions in the US, the event will dive into the ongoing uncertainties on tariffs, tax credits and trade policies as more domestic manufacturing becomes operational. Other challenges, such as the interconnection queues and permitting, will also be covered in Dallas. More information, including how to attend, can be read here.
