PV project developer and engineering, procurement and construction (EPC) company Inovateus Solar has received a “significant” investment from Galway Sustainable Capital to increase its operations.
The deal, struck for an undisclosed amount, will permit an increase in Inovateus’ EPC operations, project financing and asset ownership in solar and energy storage.
The funding will also allow Inovateus Solar to strengthen its foothold in the US Midwest, coupled with an expansion across other geographic markets in the country.
Jennifer von Bismarck, CEO of Galway Sustainable Capital, said: “We are excited about Inovateus’ ability to scale solar deployment and also to offer renewable energy solutions to other companies across our portfolio.”
Inovateus Solar, which is based in South Bend, Indiana, developed and financed over 500MW of utility, commercial, industrial and solar systems in the US and the Caribbean.
“While Galway’s vision of creating reliable, clean power-generating solar assets aligns with Inovateus’ mission, Galway also brings decades of expertise and a reputation in the industry that will further enhance Inovateus’ brand and make our company the most vertically integrated solar firm in the country,” said Tim Sutherland, executive chairman of Inovateus Solar.