US solar development company Hawthorne Renewables has announced its launch, planning to operate 2GW of solar assets and invest US$250 million in the US market next several years.
Hawthorne Renewables was formed from a merger of Power Capital Energy Group and US solar development company Sulus Solar. After the merger, Hawthorne Renewables will focus on developing, building and owning large-scale solar projects across the US.
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Founded in 2016, Sulus Solar has delivered more than US$150 million worth of solar projects across Oregon and Washington.
Moreover, green energy private equity firm Omnes Capital backed the merger, marking its first foray into the US market. In the next three to four years, Omnes Capital will invest US$250 million in the US market through Hawthorne Renewables.
“We thoroughly analysed a large set of potential development platform companies for our entry to the US. Conor (Grogan) and Colin (Murphy, founders of Sulus Solar) stood above the pack as ideal partners amidst a dynamic and competitive market,” said Justin Brown, co-founder and co-chief executive of Power Capital.
Grogan added: “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.”
