ECP, an investor with a decades-long reputation in the renewable and sustainable solutions sector, has acquired Pivot Energy, a national commercial and community solar developer.
Pivot offers a distributed solar development platform that is focused on facilitating the rapid transition to cleaner and more decentralized power generation by developing, financing and managing commercial and community solar projects across the U.S. Pivot serves the full commercial solar ecosystem, including retail customers, project developers, system operators, utilities and financiers, while also providing community solar to local governments, school districts, non-profits, low income housing authorities and residential customers.
“We are thrilled to partner with ECP in the next phase of growth for Pivot Energy,” said Tom Hunt, CEO of Pivot Energy. “With ECP’s deep expertise in the renewable energy sector, strategic investment mindset and world class resources, we are well-positioned to accelerate project development, expand our product offerings and enable project ownership. In partnership, we look forward to advancing clean energy and creating a positive impact for our stakeholders and our planet.”
“Pivot is a true pioneer in one of the fastest growing segments of the renewables sector. Through its leadership position in community solar, the Company is rapidly expanding access to low-cost, renewable energy to historically underserved communities across the U.S. We are impressed by the strategies and approaches the Pivot team has implemented in creating a high-quality distributed solar platform,” said Rahman D’Argenio, partner of ECP. “We are excited to work with Pivot to capitalize on the significant opportunities ahead to expand its market share and strengthen its leadership in a large and underpenetrated market.”
CohnReznick Capital acted as the exclusive financial advisor to Pivot Energy on the transaction. Latham & Watkins LLP is serving as legal advisor to ECP.