Denham Capital Announces $200 Million for Solar Energy Generator Solops

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Boston based global energy transition investment firm Denham Capital has announced that it has closed a purchase agreement with Solops that develops, finances, and owns and operates photovoltaic solar projects in the commercial and industrial (C&I) sector throughout the United States.

Under the agreement, Denham has acquired Solops and will support the growth of the business including execution of Solops’ over 800 MW pipeline of project investments with an initial commitment of $200 million.  Solops’ distributed generation solutions support customers in achieving decarbonization goals and simultaneously reduce operating costs.  Denham said that the business plan is further enhanced by the Inflation Reduction Act (IRA) which is providing a longer runway for incentives in the US renewable power space and further targeting incentives for utilization of domestic products and in low-income communities throughout the US.

Denham delves in mining and sustainable infrastructure space. Solops has collectively developed and built over 3 GW of C&I solar across 29 states and closed on financings in excess of $2.1 billion.

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Denham said that the agreement with Solops is aligned with Environmental, Social, and Governance (ESG) framework of Denham and aims to provide affordable solar energy, regardless of whether customers have a roof or land suitable for solar panels.

Justin DeAngelis, Partner and co-head of Sustainable Infrastructure, Denham Capital said, “Solops is a great opportunity for Denham Sustainable Infrastructure’s newest fund to help execute on our ‘buy and build’ strategy, where we are supporting the growth of businesses led by industry experts.  We have been supporting global investment in utility scale solar PV for over 15 years and Solops is our first investment in the distributed generations space, where we see lots of opportunities not only in the US but globally.”

Matthew Rosenblum, CEO and Co-Founder of Solops, stated on the agreement with Denham, “Under this new ownership, Solops now becomes an independent power producer giving it full control over the entire project life cycle in order to implement the Solops best practice policies and procedures which have been highly successful over the past twelve years.”

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Recently, Denham Capital completed sold Nexif Energy’s portfolio of Australian and Southeast Asian energy assets to RATCH Group PCL with an enterprise value in excess of $1 billion.