ARCADIA ACQUIRES OREGON SHINES

News provided by

Jun 21, 2023, 12:01 ET

Transaction establishes Arcadia as the community solar market leader in Oregon

WASHINGTON, June 21, 2023 /PRNewswire/ -- Arcadia, the technology company enabling the global energy transition, today announced it has acquired leading community solar provider Oregon Shines. With this transaction, Arcadia becomes the largest manager of community solar projects in the state of Oregon.

The acquisition includes Oregon Shines' subscription portfolio of nearly 84 MWdc, which serves a balanced mix of large and small businesses, along with residential subscribers, including low-income subscribers.

Terms of the transaction, which closed on May 22, 2023, were not disclosed.

"With this acquisition, we are excited to take on management of the largest community solar portfolio in Oregon, bringing Arcadia's industry-leading technology and operations to the state's solar asset owners, and best-in-class customer experience and service to subscribers," said Joel Gamoran, Arcadia's Vice President and General Manager of Energy Services.

"We founded Oregon Shines on the idea that solar power should be an option available to anyone, regardless of their income or whether they own a home," said Troy Snyder, co-founder of Oregon Shines. "Arcadia shares that belief, and shares our commitment to customers. We're confident that they will continue to deliver outstanding service to subscribers."

Arcadia is the largest community solar manager in the United States and manages over 1.6 GW of community solar capacity across more than 500 projects in 14 states.

About Arcadia
Arcadia is a climate technology company enabling a zero-carbon economy. By unlocking high-fidelity, global energy data for the first time, the Arc platform combines easy-to-use data and APIs under one roof to allow any company to act on its environmental impact and build the next generation of energy products and climate tech solutions. Arc democratizes access to data from thousands of utility providers in 52 countries, covering more than 95% of US residential and commercial utility accounts.

Founded in 2014 on the belief that everyone deserves access to clean energy, Arcadia also manages the nation's largest community solar portfolio, helping to tackle energy injustice while spurring economic growth with more than 1.6 GW of solar under management. Join us in our mission and find out how you or your business can help achieve the vision of a 100% zero-carbon future at www.arcadia.com.

MEDIA INQUIRIES
[email protected]

SOURCE Arcadia