Scale Microgrids Acquires 500 Megawatts of Community Solar Projects Across the United States
RIDGEWOOD, N.J.–(BUSINESS WIRE)–Scale Microgrids (“Scale”) announced that it has entered into a definitive agreement with Gutami, Inc. to acquire 500 megawatts of distributed solar and storage projects across multiple states including California and New York.
Building on their successful existing 100 megawatt partnership in New York, Scale and Gutami have executed an expansion agreement under which Gutami will develop 500 megawatts of energy transition infrastructure assets, which Scale will acquire, finance and own.
This deal with Gutami adds to Scale’s growing portfolio of community solar projects across the country, with the capacity to power over 80,000 homes and small businesses and reduce annual CO2 emissions by around 800,000 tons.
“As we kick off 2024, we’re thrilled to announce continued progress on our company’s rapid growth. This expansion of a successful relationship is central to our mission of powering the world with clean, distributed energy,” says Scale’s Chief Executive Officer, Ryan Goodman. “Community solar continues to be a priority for Scale for both its inclusivity and ability to provide more options to our microgrid customers. Community solar is a great option for those who are unable to install rooftop solar because they are renters, can’t afford solar, or because their property is not suited for it.”
“We are excited to close this second deal with Scale. After our first success in New York, we were able to expand to other states,” says Gerben Pek, Gutami’s Chief Executive Officer. “The fast decision-making processes by local governments combined with clear legal structures and a well-functioning legal system, enables us to accelerate our growth in community solar in the US.”
About Scale Microgrids: Scale is a vertically integrated distributed energy platform, with a core focus of designing, building, financing, owning and operating cutting-edge distributed energy assets that offer cheaper, cleaner, and more resilient power. Their team of energy and financing experts accelerate growth in distributed energy projects by providing financing to technology providers, energy developers, and OEMs, while also directly helping large energy-consuming customers to take charge of their energy infrastructure and future-proof their businesses.
About Gutami: Gutami is a privately owned Global developer and investor in sustainable energy solutions. Established in 2006, Gutami invests in, finances and acquires assets and optimizes asset returns. Our Energy Solutions include Solar Parks, Rooftop Solar, Energy Storage and Hydrogen.
Contacts
Media:
Nicole Green
Director, Marketing and Branding
Scale Microgrids
ngreen@scalemicrogrids.com
401-595-3020
Shelim Islam
Director US
Gutami Inc
shelim@gutami.com
404-400-9713