Scale acquires NY community solar projects from Nexus
Updated: Apr 18, 2023
Scale Microgrid Solutions (“Scale”), a Warburg Pincus portfolio company, announced today that it has acquired three community solar projects in Upstate New York with 14 MW of capacity from Nexus Renewables (“Nexus”).
This initial acquisition represents the first tranche of a larger $100 million agreement between Nexus and Scale whereby Scale will fund the development, construction, and acquisition of a portfolio of distributed grid-connected solar and battery energy storage projects across the United States. Concurrent with the acquisition, Scale has issued notice to proceed under a fixed-price turnkey EPC agreement with an anticipated commercial operations date in the first quarter of 2023.