Coronal group to acquire HelioSage, establish new company

Alternative energy firm Coronal Group has purchased the majority of the assets from HelioSage Energy and has founded Coronal Development Services — establishing a solar development solutions company available to clients in North America.

Along with Panasonic Eco Solutions, Coronal now owns and maintains a portfolio of PV installations totaling close to 100MW. The HelioSage acquisition will now add over 300MW worth of Notice to Proceed projects and over 1.5GW worth of installations currently in development.

Jonathan Jaffrey, chairman and CEO of Coronal Group, said: “This acquisition will accelerate our fast-growing platform and strengthen our position as an integrated solar energy solution provider for customers with utility-scale projects and across markets in the solar industry. In addition to an extensive pipeline of both near-term and development-stage projects, we are gaining a deeply experienced and successful development team that is committed to fueling the growth of our utility-scale portfolio in North America."

HelioSage has been an active player in terms of dealing with other companies — securing more than 400MW worth of agreements with groups such as Duke Energy, Georgia Power Company, the Tennessee Valley Authority and more.

Chris Walmsley, president of CDS, said: "HelioSage has worked tirelessly to establish a reputation and a track record as a well-respected leader in large-scale solar development. Joining a team the caliber of Coronal-Panasonic represents the culmination of years of hard work - but what is most exciting to all of us is our future together."

Jamie Evans, managing director of Eco Solutions for Panasonic, added: “Panasonic is excited to have HelioSage joining the Coronal-Panasonic team. The HelioSage team brings an impressive skill set and a culture that will be very complementary to the Coronal-Panasonic platform.  Collectively, we are well-positioned to execute a significant project pipeline throughout North America in the near term."