January 20, 2022
Nexus Renewables (“Nexus”) and Scale Microgrid Solutions (“SMS”) have entered into agreement whereby SMS will fund the development, construction, and acquisition of a $100 million (USD) portfolio of distributed grid-connected solar and battery energy storage projects across the United States.
This transaction marks a significant milestone for Nexus Renewables.
“Nexus Renewables prides itself as one of the best in identifying and serving underserved solar and energy storage market opportunities. The Nexus team demonstrates this strength through advancing construction-ready projects in multiple markets including New York, California, and Texas. Securing SMS as an institutional partner not only reinforces this core competency, but also provides continued access to capital to support rapid growth,” said Keith Sandor, President of Nexus Renewables.
This transaction adds to Scale’s rapidly growing distributed solar and energy storage finance and acquisition pipeline across the United States.
“Partnering with Nexus Renewables on this project pipeline draws on the breadth of SMS’ capabilities to provide flexible turn-key financing solutions at scale. This investment is in-line with our commitment to fund and acquire innovative energy infrastructure projects that provide resiliency and clean energy solutions in markets across the United States,” said Julian Torres, Chief Investment Officer of Scale Microgrid Solutions.