iSun Inc., a photo voltaic vitality and clear mobility infrastructure firm, has reached a definitive settlement to make a strategic minority curiosity fairness funding in Encore Renewable Energy, a community-scale clear vitality firm and business photo voltaic developer.
“This partnership displays the progress we’ve steadily been making towards our three-pronged technique for development,” says Jeffrey Peck, chairman and CEO of iSun. “By deepening our long-standing relationship with Encore Renewable Power, we are going to achieve invaluable insights into new geographic markets which we are able to use to additional advance our C&I technique.
“Equally essential, we will probably be strengthening a long-term relationship with a companion whose values and dedication to innovation mirrors ours,” Peck provides. “Encore’s expertise in reclaiming undervalued actual property for clear vitality technology and storage, and revitalizing communities with the deployment of agrivoltaic options illustrates their understanding of the challenges typically related to getting buy-in for community-scale clear vitality growth initiatives, and finally reduces limitations for photo voltaic adoption.”
The funding will speed up the enlargement of iSun’s business, industrial and utility companies into new geographic markets. It’s going to allow Encore to additional advance clear vitality options, together with photo voltaic + storage, brownfield redevelopment and twin land-use/agrivoltaics initiatives.
“This new infusion of capital from iSun will enable us to greater than double our mission growth pipeline over the following 12 months,” mentions Chad Farrell, CEO and founding father of Encore Renewable Power. “Deploying extra community-scale photo voltaic and photo voltaic + storage options throughout the Northeast and different strategic markets helps our ongoing work to speed up the transition to a sturdy clear vitality economic system powered by low value, carbon free renewable sources.”