ECP, a renewables and sustainable solutions investor, acquired Pivot Energy, a national commercial and community solar developer on June 1. Founded in 2009, Pivot offers a distributed solar development platform, financing and managing commercial and community solar projects across the United States.
Pivot serves the full commercial solar ecosystem, including retail customers, project developers, system operators, utilities and financiers, and provides community solar to local governments, school districts, non-profits, low-income housing authorities and residential customers and the economic and environmental benefits attached to the technology.
“We are thrilled to partner with ECP in the next phase of growth for Pivot Energy,” said Tom Hunt, CEO of Pivot Energy. “With ECP’s deep expertise in the renewable energy sector, strategic investment mindset and world-class resources, we are well-positioned to accelerate project development, expand our product offerings and enable project ownership. In partnership, we look forward to advancing clean energy and creating a positive impact for our stakeholders and our planet.”
ECP plans to provide Pivot with increased access to capital to bolster its growth within the community solar sector. Pivot will transition to a model of aggregating and managing recurring cash flow assets through in-house development, co-development partnerships and acquisitions.
“Pivot is a true pioneer in one of the fastest-growing segments of the renewables sector,” said Rahman D’Argenio, partner at ECP. “Through its leadership position in community solar, the company is rapidly expanding access to low-cost, renewable energy to historically underserved communities across the U.S. We are impressed by the strategies and approaches the Pivot team has implemented in creating a high-quality distributed solar platform. We are excited to work with Pivot to capitalize on the significant opportunities ahead to expand its market share and strengthen its leadership in a large and underpenetrated market.”
News item from ECP