CohnReznick Capital Advises 7X Energy on Sale of 9 GW Solar Development Platform
CohnReznick Capital is pleased to announce that 7X Energy, Inc. (“7X”), a leading independent power producer that develops, owns, and provides asset management services of utility-scale solar projects, has entered into a Purchase & Sale Agreement for the 100% equity sale of its 9 GW solar development platform. The transaction, valued at $220M, is expected to close in 30 days after obtaining customary regulatory approvals.
CohnReznick Capital served as exclusive financial advisor to 7X on the transaction.
Headquartered in Austin, Texas, 7X has been a vital component of the clean energy transition, successfully originating and developing over 2.1 GWp of solar projects that are operational or under construction since its formation in 2016. 7X’s 9 GW pipeline is comprised of projects located across 12 states, with the largest portfolios in ERCOT and PJM. The high-quality solar pipeline includes 2.2 GW of projects expected to reach final investment decision (“FID”) by 2025, with the balance reaching FID by 2030. Total capacity, upon completion, will generate renewable energy sufficient to power approximately 1.7 million homes.
“CohnReznick Capital is thrilled to advise 7X, one of the premier independent developers in the market, on the sale of their development platform,” said Britta von Oesen, Managing Director at CohnReznick Capital. “The acquisition ensures the continued success and completion of the pipeline, as well as the broader renewable energy transition in the U.S.”
For additional details on this transaction, please contact Britta von Oesen.
About 7X Energy
7X Energy, Inc. (7X), is a leading independent power producer that develops, owns, and provides asset management services of utility-scale solar projects. The company is independently owned and consists of a diverse team of seasoned industry veterans, with over 10,000 MW of collective utility-scale development expertise. 7X has over 2,000 MWp of solar projects that are operating or under construction. 7X’s corporate office is located in Austin, Texas, with regional offices located in Denver, CO; San Francisco, CA; and Washington, D.C. For more information visit us at www.7x.energy or LinkedIn.