Norwalk-based energy company Crius has reached an agreement with Vancouver”™s Solar Alliance Energy Inc. to identify, develop and install new residential solar projects in six states, including Connecticut.
The move should help shore up Crius”™ solar offerings. Oakland-based Sungevity, which formed a partnership with Crius subsidiary Viridian Energy in 2015, filed for bankruptcy in March. Last year, Crius acquired bankrupt California solar installer Verengo for $11.9 million and concluded a separate acquisition several assets from Missouri”™s SunEdison Inc.
“With the pending close of our Verengo acquisition, the Crius Solar and Solar Alliance teams will draw upon our track record of more than 20,000 residential solar installations ”“ as well as the proprietary customer and project management platform acquired from SunEdison ”“ to deliver an exceptional solar experience to U.S. consumers,” Crius Solar Executive Vice President Christian McArthur said.
“Further,” he added, “as we transition more of our cost base to variable costs tied directly to customer growth, Crius Solar is best-positioned to serve and maintain these customer relationships for decades to come.”
Solar Alliance will initially focus on markets that represent the majority of the existing retail energy customer base of Crius Solar’s affiliate company, Crius Energy LLC, which in addition to Connecticut includes California, Massachusetts, New Jersey, New York and Rhode Island.
The Crius agreement follows Solar Alliance’s recent acquisition of a Los Angeles solar sales team and project pipeline, which tripled the size of the Solar Alliance team and added a backlog of 156 residential solar projects, or approximately 780 kilowatts, a majority of which are expected to be fulfilled by Crius Solar over the next 60 to 90 days.
