TCA Microgrid Energy LLC, doing business as Pivot Energy, a leading community and commercial and industrial (“C&I”) solar project developer, has been acquired by ECP (formerly “Energy Capital Partners”), a renowned private equity investor in power and renewables.
CohnReznick Capital acted as the exclusive financial advisor to Pivot Energy on the transaction.
Pivot Energy was an early entrant in the community solar market and quickly became the #1 community solar developer in Colorado and a leader in the states of Illinois, New York, and Minnesota. In 2018, Pivot Energy launched SunCentral, an industry-leading subscriber acquisition and management platform for community solar projects.
With this strategic acquisition, ECP obtains Pivot Energy’s robust distributed generation origination and development platform, which has delivered over 700 projects across 18 states since formation, a 595MW solar pipeline and an immediate leading position in community and C&I solar in key U.S. markets. The acquisition also allows Pivot Energy and ECP to unlock significant value by transitioning the business to hold assets on balance sheet while expanding market share and pursuing additional growth opportunities.
“In addition to their strong DG platform, Pivot Energy has been instrumental in developing and influencing community solar markets throughout the U.S.,” said Britta von Oesen, Managing Director at CohnReznick Capital. “Combined with ECP’s expertise and experience, we are confident this group will continue to thrive in the growing community and C&I solar sectors.”
For further details on this transaction, please contact Britta von Oesen, Managing Director.
For the full press release, please click here.
About Pivot Energy
Pivot Energy is a national solar provider that develops, finances, builds, owns, and manages solar and storage energy projects. Pivot offers a distributed energy platform that includes a range of services and software aimed at serving the full solar ecosystem. Pivot operates on a triple bottom line basis, measuring success by the positive impact on people, the planet, and profit. Learn more at pivotenergy.net
ECP, founded in 2005, is a leading investor across energy transition, electrification and decarbonization infrastructure assets, including power generation, renewables and storage solutions, environmental infrastructure and efficiency & reliability assets facilitating the energy transition. The ECP team, comprised of 53 people with 500 years of collective industry experience, deep expertise and extensive relationships, has consummated more than 60 transactions over the last 10 years, representing more than $45 billion of enterprise value.