Hawthorne Renewables, a newly established solar improvement firm, has formally opened its Phoenix headquarters. The firm is the results of a merger between Power Capital Energy Group and Portland, Ore.-based Sulus Solar.
Sulus Solar launched in 2016. Since then its founders, Colin Murphy and Conor Grogan, have quickly scaled the corporate to ship greater than $150 million of solar initiatives throughout Oregon and Washington. Murphy and Grogan will lead Hawthorne Renewables with a concentrate on growing, constructing and proudly owning large-scale solar initiatives throughout the United States.
“We’re incredibly proud of the success we’ve had, and have a huge appetite to ramp up our operations with new infrastructure from this merger,” says Grogan. “Hawthorne Renewables is well-positioned to sprint out of the gates with the experience, ambition and capital to be a significant player in the clean power generation movement.”
Financial backing for this funding is supplied by Omnes Capital, a $5.2 billion inexperienced energy non-public fairness agency headquartered in Europe, the place it has efficiently invested in a number of renewable energy improvement platforms. Hawthorne Renewables marks the primary U.S. enterprise for the Paris-based firm, which intends to take a position $250 million over the following three to 4 years within the U.S. by way of this endeavor.
“We thoroughly analyzed a large set of potential development platform companies for our entry to the U.S., followed by extensive third-party legal and technical due diligence on the Sulus Solar platform,” notes Justin Brown, co-founder and co-CEO of Power Capital. “Conor and Colin stood above the pack as ideal partners amidst a dynamic and competitive market.”
Hawthorne Renewables will even have workplace house in Portland.