U.S. Community Solar Developer Nexamp Raises $520 Million to Accelerate Deployment
Distributed solar and energy storage solutions developer and operator Nexamp announced that it has raised $520 million, with proceeds from the financing aimed at accelerating its growth as the company expands into new markets and builds renewable energy and storage capacity.
Founded in 2007, Boston-based Nexamp focuses on the deployment and operation of solar energy assets, with capabilities across the solar project life cycle, including project development, design and construction, as well as financing, maintenance and operation. The company currently serves nearly 80,000 customers and maintains a portfolio of over 1.5 gigawatts of generating and in-construction capacity.
In a statement announcing the financing, Nexamp said that the new investment “reflects the immense surge in demand for renewable power across the country” and growing investor appreciation “of the essential need to balance utility-scale infrastructure with reliable distributed power solutions in navigating the clean energy transition,” with community solar emerging as the fastest growing segment in the industry.
Nexamp CEO Zaid Ashai said:
