fresh funding
Houston renewables developer lands $85M for nationwide solar projects
Houston-based Catalyze, a developer of independent power systems, announced it has secured an $85 million tax equity investment from RBC Community Investments.
“RBC’s investment in this portfolio demonstrates our commitment to advancing clean energy solutions within local communities,” Jonathan Cheng, managing director at RBC, said in a news release. “We are excited to partner with Catalyze on the strategic deployment of these and future projects.”
The financing will go toward the construction and completion of 75 megawatts of commercial and industrial solar projects nationwide in 2025. Catalyze’s current generation portfolio now totals 300 megawatts of projects in operations and construction.
The transaction will help Catalyze’s existing relationship with RBC, which demonstrates a commitment to advancing renewable energy solutions at scale.
“RBC is a valued financing partner, and we are pleased to further expand our relationship with this latest investment,” Jared Haines, CEO of Catalyze, said in a news release. “This financing enables us to further our mission to bring scalable distributed generation projects to businesses and communities nationwide.”
Catalyze also has other private equity sponsors in EnCap Investments and Actis.
Last May, Catalyze announced that it secured $100 million in financing from NY Green Bank to support a 79-megawatt portfolio of community distributed generation solar projects across New York state.