- Eyeing large commercial, industrial and public sector companies, a new solar energy supplier has entered the US market
- White Pine Renewables will provide competitively priced clean energy under long terms PPAs to these end consumers
- It will develop, finance, own and operate the renewable energy assets and defines its business model as an exciting growth opportunity for investors
There’s a new kid on the block in the US renewables market whose business model is to develop, finance, own and operate solar and storage assets and supply clean energy to end consumers, read leading commercial, industrial and public-sector customers, under long-term power purchase agreements (PPA).
The new entity is called White Pine Renewables and will mainly be focused in the California and Midwest regions. It will provide competitively priced clean energy aiming for projects ranging between 1 MW DC to 20 MW DC.
Launched in late October 2020, White Pine Renewables said it is currently overseeing 10 MW of solar projects under construction that are due to become operational in 2020. It is developing another 50 MW solar PV capacity to enter construction in 2021.
“The behind-the-meter and regional utility-scale solar markets represent an exciting opportunity to harness renewable energy to help businesses and municipalities save on electricity costs in a safe, clean and reliable manner, while also presenting an exciting growth opportunity for investors seeking strong market returns and an impact on climate change,” said CEO Evan Riley.
White Pine Renewables is founded by ex-Cypress Creek Renewables senior executive Evan Riley and former President and CEO of CalCom Energy Dylan Dupre who is now White Pine’s President. Former Director of Project Finance at Cypress Creek Michael Kremer will be the company’s head of strategic finance.
The US B2B clientele is currently the most interesting market for distributed solar PV generation players, as of late several such initiatives have been launched in the country eyeing this segment. In early October 2020, Siemens and Green Investment Group launched Calibrant Energy to offer distributed generation services for US corporations. These companies were preceded by Blackstone to launch ClearGen and Goldman Sachs-Telos Clean Energy also entering the space (see Another Distributed Generation Entity For US Market).