iSun Inc., a solar energy and clean mobility infrastructure company, has reached a definitive agreement to make a strategic minority interest equity investment in Encore Renewable Energy, a community-scale clean energy company and commercial solar developer.
“This partnership reflects the progress we’ve steadily been making against our three-pronged strategy for growth,” says Jeffrey Peck, chairman and CEO of iSun. “By deepening our long-standing relationship with Encore Renewable Energy, we will gain invaluable insights into new geographic markets which we can use to further advance our C&I strategy.
“Equally important, we will be strengthening a long-term relationship with a partner whose values and commitment to innovation mirrors ours,” Peck adds. “Encore’s experience in reclaiming undervalued real estate for clean energy generation and storage, and revitalizing communities with the deployment of agrivoltaic solutions illustrates their understanding of the challenges often associated with getting buy-in for community-scale clean energy development projects, and ultimately reduces barriers for solar adoption.”
The investment will accelerate the expansion of iSun’s commercial, industrial and utility businesses into new geographic markets. It will enable Encore to further advance clean energy solutions, including solar + storage, brownfield redevelopment and dual land-use/agrivoltaics initiatives.
“This new infusion of capital from iSun will allow us to more than double our project development pipeline over the next 12 months,” mentions Chad Farrell, CEO and founder of Encore Renewable Energy. “Deploying additional community-scale solar and solar + storage solutions across the Northeast and other strategic markets supports our ongoing work to accelerate the transition to a robust clean energy economy powered by low cost, carbon free renewable resources.”