Denham Capital acquires US C&I solar player Solops

US private equity investor Denham Capital said on Friday that it has closed the acquisition of New Jersey-based firm Solops LLC, a developer, financier, owner and operator of solar PV systems in the commercial and industrial (C&I) sector.

Denham will support Solops’ growth, including the execution of its 800-MW-plus project pipeline with an initial investment of USD 200 million (EUR 187.1m).

The Solops management team has collectively developed and built over 3 GW of C&I solar projects across 29 US states and closed on financing in excess of USD 2.1 billion, according to Denham.

“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,” said Justin DeAngelis, partner and co-head of sustainable infrastructure at Denham Capital.

“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.”

“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,” added Matthew Rosenblum, CEO and co-founder of Solops.

(USD 1.0 = EUR 0.935)

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