Nashville based PE firm commits $10m to Renewvia Energy
Claritas Capital, a Nashville based private equity firm, and Renewvia Energy Corporation, a global solar developer, announced a partnership that will accelerate Renewvia’s growth across the globe in multiple solar development sectors. Claritas Capital agreed to commit $10 million to help with corporate growth and the expansion of Renewvia’s business in the US and Africa.
“Partnering with Claritas aggressively advances Renewvia’s mission of creating value for our commercial clients and increasing quality of life to more people around the world by delivering the first source of reliable, affordable and clean energy,” said Trey Jarrard, CEO of Renewvia Energy. ”Solar uptake is dramatically increasing given climate change demands, power diversification strategies, and social impact opportunities all converging with strong solar economics, and this investment will quickly propel Renewvia into a leading position in the US and abroad.”
“Claritas is committed to partnering with leading management teams across themes where there is substantial opportunity for value creation,” said John Chadwick, founder and partner at Claritas. ”It is an incredible time to be part of the renewable story and Renewvia’s successful track record on a global scale has proven they can deliver reliable, clean power and create value while improving lives. We look forward to partnering with Renewvia as they rapidly expand their domestic and international renewable development platform.”
In the US, Renewvia is a renewable energy leader providing clean energy solutions. This investment will enable Renewvia to meet the increasing demand for end-to-end commercial distributed solar services from its growing customer base across the country. In Africa, Renewvia is a leading mini-grid utility and commercial solar developer providing the first reliable, affordable, and clean energy source to individuals and small businesses in multiple countries in sub-Saharan Africa. Renewvia’s existing portfolio and growing project pipeline of mini-grids will serve over 350,000 individuals and small businesses in remote off grid areas.
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