Greenbacker Capital Management has made a strategic investment in Commonwealth Energy Partners (CEP), through the company’s subsidiary, CEP Solar.
The investment will enable CEP to expand and execute on its existing project pipeline, which is focused on solar power and energy storage development in the Commonwealth of Virginia.
Driven in part by the 2020 passage of the Virginia Clean Economy Act, which mandates a statewide 100 percent clean energy standard by 2045, Virginia’s regulated market alone is expected to procure at least one gigawatt of solar annually for the next 15 years.
“We are thrilled to join forces with the CEP team as we expand our presence across the mid-Atlantic and, specifically, in Virginia,” said Benjamin Baker, the fund’s managing director and principal. “CEP is emblematic of what Greenbacker seeks in its partners: a top-tier management team with deep market knowledge and relationships, operating within an attractive, high-grow
