Catalyze Announces Solar and Storage Development AgreementSeptember 7, 2023
The 25-year power purchase agreement (PPA) supports renewable electricity generation and use at Plains’ Patoka Terminal
Houston, TX, September 7, 2023 – Catalyze, a clean energy transition company that finances, builds, owns, and operates solar, battery storage, and electric vehicle charging systems for commercial and industrial customers, today announced an agreement with Plains All American (Plains) to construct a 6.6 MW DC solar facility and 5 MWh energy storage system at Plains’ Patoka Terminal in Vernon, Illinois.
The project will support Illinois’ efforts to increase statewide usage of renewable energy by 2040 and the project’s financing was partially supported by the Illinois Shines Program, which incentivizes the use of on-site solar for local businesses.
“We’re very excited by this opportunity to facilitate Plains’ continued efforts to deliver critical energy resources while lowering the carbon footprint of its operations through the use of solar and storage systems,” said Catalyze Chief Commercial Officer Terrill Laughton. “These facilities will generate clean and economical energy for their local terminal operations.”
Under the agreement, Catalyze will build, own, and operate the solar-to-electrical conversion systems on 60 acres of leased land at the Plains Patoka Terminal, and Plains will purchase the clean energy generated to power operations at the facility under the 25-year agreement.
Catalyze is a national Energy Transition Partner that develops, finances, owns, and operates integrated renewable assets, and combines its proprietary technology, financial strength, and battery and electric vehicle savvy to deliver standardized, yet configurable systems that meet their partners’ unique needs. These offerings enable commercial and industrial property owners, operating companies, and their customers to extract greater value from their assets, take increased responsibility and ownership of their energy profile, and ultimately become part of the clean energy transition. Catalyze owns two proprietary technologies – REenergyzeⓇ, an origination-to-operations software integration platform that helps accelerate and scale the nationwide adoption of commercial and industrial solar and storage, and SolarStrapⓇ, a proprietary mounting technology to install rooftop panels. To learn more, visit www.catalyze.com.
About EnCap Investments L.P.
Since 1988, EnCap Investments has been a leading provider of growth capital to the independent sector of the U.S. energy industry. The firm has raised 24 institutional investment funds totaling approximately $40 billion and currently manages capital on behalf of more than 350 U.S. and international investors. Founded in 2019, the EnCap Energy Transition platform is led by four Managing Partners, each with 30-35 years of experience in the development and operations of renewables and power generation. For more information, please visit www.encapinvestments.com.
Actis is a leading global investor in sustainable infrastructure. Actis has raised $US25 billion since inception and has more than US$15 billion of assets under management. A team of over 120 investment professionals operates from 17 offices across five continents. Actis’ global experience, operational know-how and strong culture allows it to build and operate global sustainability leaders of scale, while delivering competitive returns for institutional investors and measurable positive impact for the countries, cities and communities in which it operates. Actis is a signatory to the United Nations backed Principles for Responsible Investment (UNPRI), an investor initiative developed by the UNEP FI and the UN Global Compact. The firm has consistently been awarded the highest rating score in the UNPRI independent assessment. www.act.is