REC Solar to further accelerate nationwide clean energy transition through partnership with ArcLight

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Oct 05, 2023, 09:00 ET

Investment will enable scaleup of on-site solar and storage as well as community solar

SAN LUIS OBISPO, Calif., Oct. 5, 2023 /PRNewswire/ -- REC Solar, one of the nation's leading solar energy integrators, announces its newly formed partnership with an investment fund managed by ArcLight Capital Partners, LLC (collectively "ArcLight"), a leading middle market investment firm focused on sustainable infrastructure.

REC Solar has a portfolio of solar, battery energy storage and microgrid projects for hundreds of U.S. commercial enterprises, including manufacturers, retailers, schools, universities and municipalities.

ArcLight Capital Partners (PRNewsfoto/ArcLight Capital Partners)

"For 26 years, REC Solar has sought to accelerate the nationwide transition to solar and cleaner energy. Our longevity in this industry – and lessons learned along the way – helps to make the transition to solar as seamless as possible for our customers," said Lawrence Denney, CEO of REC Solar. "ArcLight's investment provides us with an opportunity to build on that legacy and evolve with today's changing renewables landscape. With their backing, we're able to expand our reach and drive growth at scale, enabling and financing more on-site solar and storage opportunities while also bringing solar to communities that haven't traditionally had access."

The partnership marks a pivotal moment for REC Solar, providing the leading solar developer with capital to help organizations better achieve their ambitious sustainability goals and expand access to clean energy nationwide.

"We are dedicated to creating and accelerating the growth of strong standalone renewable energy platforms, and this investment allows us to achieve that objective by combining REC Solar's expertise with our portfolio of development opportunities," said Marco Gatti, Managing Director at ArcLight. "REC Solar is widely recognized as a nationwide leader in the solar industry, and its talented team has a proven track record of building high-quality customer relationships."

REC Solar will guide customers through a seamless end-to-end process for behind-the-meter solar and storage projects, offering zero-upfront-cost financing and price predictability in addition to development, long-term ownership, operation and maintenance expertise over the life of the assets. REC Solar will also work with both landowners and large power users nationwide to scale greenfield development and provide more equitable access to clean energy through community solar.

About REC Solar
Founded in 1997, REC Solar quickly emerged as one of the nation's leading solar energy integrators. Renowned for its integrity and high-quality standards, REC Solar's portfolio includes solar, energy storage and microgrid projects for top U.S. commercial enterprises, including manufacturers, retailers, schools, universities, municipal entities and more. REC Solar's customers enjoy a seamless end-to-end experience – one that includes zero-upfront-cost financing and predictable monthly payments as well as long-term and worry-free development, ownership, operation and maintenance of solar and storage projects. With decades of experience embedded in every project, REC Solar is committed to providing every customer the same integrity, exceptional customer service, and high-quality solutions and services that has made it a trusted solar company for the past 26 years. More information about REC Solar can be found at www.recsolar.com.

About ArcLight
ArcLight Capital Partners, LLC is an experienced, middle-market, value added infrastructure investment firm. Founded in 2001, ArcLight helped establish infrastructure as an asset class by pioneering an asset-based private equity approach to investing in infrastructure and has since built an experienced and successful investment platform. Based in Boston, ArcLight's investment team employs a value-added, operationally intensive investment approach that benefits from its dedicated in-house technical, operational, and commercial specialists and partners, as well as the firm's approximately 1,900-person asset management operational partner. More information about ArcLight can be found at www.arclight.com.

Media contact for REC Solar:
Ashley Ford
[email protected]
803.318.2143

Media contacts for ArcLight:
Charlyn Lusk
[email protected]
646.502.3549

Joshua Greenwald
[email protected]
646.504.7306

SOURCE REC Solar