Energy investment platform CleanCapital has acquired renewable energy developer BQ Energy (BQE), adding 300MW of late-stage solar development to its pipeline.
The developer operates in different markets – community solar, commercial and industrial (C&I) solar and utility-scale solar – with the particularity of developing in “environmentally compromised” sites such as coal plants, refineries or mines.
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As well as the 300MW of projects in late-stage development, BQ Energy will also add 700MW of solar projects in mid-stage development.
CleanCapital is to fund the development of BQE’s long-term pipeline, with the developer becoming a wholly owned subsidiary.
Paul Curran, CEO at BQ Energy, said: “Working under the CleanCapital umbrella provides tremendous synergies for our teams. With CleanCapital’s financial backing, our development team can focus on what they are great at—rather than raising capital piecemeal, we can get more brownfield solar projects developed and built.”
Last month, the investment platform had secured a US$200 million credit facility that would support its pipeline of distributed solar and energy storage projects in the US.