Arcadia and Perch Power have introduced a brand new enterprise combining each firms’ group photo voltaic companies to create a brand new standalone firm, which would be the largest pure-play group photo voltaic acquisition and administration servicing platform within the U.S. The brand new firm will function as a devoted enterprise targeted on scaling group photo voltaic adoption with sturdy monetary backing and a board composed of Arcadia and Perch traders.
The brand new enterprise will probably be majority-owned by Arcadia. Bruce Stewart, President and CEO of Perch, will function the CEO of the brand new firm and sit on the Board of Administrators, whereas Kiran Bhatraju will proceed to function CEO of Arcadia and in addition sit on the brand new enterprise’s board. Each companies had been early leaders in group photo voltaic and have many years of vitality expertise, delivering sturdy ROI for his or her photo voltaic developer companions and high quality customer support for a various vary of business, residential and low-to-moderate earnings (LMI) clients. Collectively, the brand new enterprise will handle over 3 GW of photo voltaic capability throughout 1,000 photo voltaic tasks in 16 states, serving over 300,000 residential buyer equivalents with proprietary software program know-how and automation.
The three way partnership will leverage one of the best of each firms, from Arcadia’s market-leading buyer acquisition, billing and utility knowledge software program, to Perch’s historic energy serving industrial clients, Manufacturing-to-Cost reporting capabilities, and the mixed groups’ administration management and coverage experience — guaranteeing a clean transition for all clients.
“We imagine this enterprise displays the pure evolution and maturation of the group photo voltaic enterprise, and are excited to merge two sturdy groups with such dynamic and complementary providers and know-how, ” stated Bruce Stewart, CEO of the brand new enterprise. “This enterprise additionally speaks to the clear want we’ve heard from photo voltaic undertaking builders and asset proprietor companions who need a financially sturdy and scalable accomplice that may reliably serve them for many years. A accomplice that may help them with their progress plans and meet buyer demand, as residents, companies and governments proceed to embrace group photo voltaic throughout the US.
Arcadia’s B2B software program platform serves enterprise clients globally — offering utility knowledge integrations, AI-powered analytics and complete vitality administration options. Whereas the brand new enterprise will function as an independently managed entity, Arcadia’s platform enterprise will proceed to leverage the size of this expanded group photo voltaic presence in its Power Procurement Advisory providing.
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