Catalyze Acquires Two Community Solar Projects in New YorkMarch 16, 2021
Catalyze adds to rapidly growing portfolio using proprietary REenergyze® platform to originate, acquire projects and collaborate with development partners
Boulder, CO – March 16, 2021 — Catalyze, an independent power producer that develops, constructs, owns and operates renewable distributed generation and storage projects for the commercial and industrial (C&I) markets, today announced that it has acquired two community solar projects in New York.
Located in the upstate region, the two projects have a combined total capacity of 13 megawatts (DC) and will provide local residents, businesses, municipalities and institutions with greater access to clean energy. Catalyze is completing the development process and will begin construction on these projects in the spring, adding to a rapidly growing portfolio for the company. Catalyze is backed by leading energy investors EnCap Investments L.P. and Yorktown Partners LLC.
Catalyze used its proprietary origination-to-operations software REenergyze® to empower various renewable energy partners who developed the business case and conducted the site feasibility analysis as well as project due diligence quickly and efficiently for the acquisitions.
“These projects are perfect examples of how we work with renewable energy development partners to accelerate co-development and project acquisitions by leveraging REenergyze,” said Catalyze Chief Executive Officer Steve Luker. “It provides a platform for us and our partners to access and share site analysis, economic modeling, integrated system design tools and more while also automating proposal development. Ultimately this means we’re able to create certainty with shared project pipelines that ensure clean, affordable energy to communities and businesses much faster.”
As part of Catalyze’s effort to scale nationwide commercial solar and energy storage the company also bolstered its battery energy storage systems offering by integrating the team and capabilities of Prisma Energy Solutions at the beginning of the year. This additional expertise allows Catalyze to more seamlessly provide integrated renewable energy systems that include storage for its customers.
“Catalyze, with its combination of proprietary technology, financial strength and battery storage savvy, has all the tools needed to take on the uniquely challenging and highly fragmented C&I renewables sector,” said EnCap Energy Transition Managing Partner Shawn Cumberland.
About EnCap Investments L.P.
Since 1988, EnCap Investments has been the leading provider of venture capital to the independent sector of the US energy industry. The firm has raised 21 institutional investment funds totaling approximately $37 billion and currently manages capital on behalf of more than 350 U.S. and international investors. For more information, please visit www.encapinvestments.com.
About Yorktown Partners LLC
Yorktown Partners LLC is an energy-focused private equity firm that has raised $9 billion of capital commitments across thirteen partnerships since 1991. The firm has provided financing and leadership to over 90 companies in the energy industry. Yorktown’s principals are significant investors in their partnerships. Yorktown’s limited partners include endowments, foundations, families, insurance companies, and other institutional investors. To learn more about Yorktown, see www.yorktownenergy.com.
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