North American Infrastructure Partners, a private investment company specializing in high-quality, infrastructure assets, has announced a strategic investment in Clean Energy Collective, a U.S.-based developer of community solar solutions.
The investment represents NAIP’s first acquisition within the rapidly growing community solar industry and results in NAIP’s majority ownership of CEC moving forward. NAIP’s support will facilitate the more than doubling of CEC’s project development pace including the delivery of more than 260 megawatts of solar development over the next 24 months. NAIP brings significant capital and ongoing financial support to CEC, its development partners and business associates.
CEC plans to accelerate the organization’s growth across new and existing markets, with project development planned across multiple markets, including Colorado, Connecticut, Massachusetts and New York state. That development will result in the acquisition and management of thousands of new customers, bringing CEC’s total customers under management to more than 11,000 commercial and residential subscribers.
NAIP’s investment will provide CEC access to ongoing project development resources and operational expertise, benefiting CEC’s strategic growth plans by removing project financing complexities that are inherent across the community solar industry.