Solar developer Strata acquires Crossover Energy Partners
Source：www.pv-tech.org
A 3MW project in North Carolina operated by Cypress Creek. The majority of Strata’s portfolio is in North Carolina. Image: Cypress Creek Renewables.
Strata Clean Energy, a US solar and storage developer, has acquired Arizona-based Crossover Energy Partners to expand its offerings and execution capabilities.
Strata has acquired the entirety of Crossover’s assets and interests, along with its workforce. It said that it will leverage key Crossover relationships with municipalities, co-ops, utilities and large industrial entities to increase its reach and growth, as well as harness Crossover’s customer origination and power offtake competency.
Crossover Energy Partners is a renewable energy solutions company that partners with utilities and large corporate users to facilitate end-to-end solutions across the development, financing, construction and operations of renewables projects.
“Strata’s acquisition of Crossover bolsters our ability to bring high-value energy solutions to our clients across several market segments and geographies,” said Joshua Rogol, chief development officer for Strata.
“The combination of our platforms will be valuable to Strata as we grow our development pipeline to over 15GWs this year.”
Last year, Strata agreed a 500MW module order deal with LONGi, to be fulfilled over two years. Around the same time, it completed funding for a 130MW solar portfolio in the US consisting of 23 operating assets.
The company has a pipeline of almost 8GW of solar PV projects and 25GWh of standalone energy storage, with over 170 projects in operation.
Crossover Energy announced a partnership with KKR investment in 2021 to produce renewable energy projects. The company has developed over 10.5GW of renewables and 11.7GWh of energy storage solutions.