Panasonic-Backed Coronal Seeks To Acquire More Solar Projects


Coronal Energy, powered by Panasonic, has announced plans to increase the number of solar PV projects it will acquire in 2017 and 2018. The California-based company says its new Solar Acquisition Program will expand its North American solar pipeline, which already totals over 3 GW under development.

Coronal Energy develops, finances and operates solar PV projects in exclusive partnership with Panasonic. The company says Panasonic made an initial strategic investment in Coronal in 2014, followed by a second investment in September 2016.

“While many companies are retrenching, Coronal Energy, powered by Panasonic, is in growth mode,” comments Jonathan Jaffrey, chairman and CEO of Coronal Energy. “We are fortunate to be backed by a Fortune Global 500 entity in Panasonic that has made a long-term commitment to the future of solar energy in North America. Our financial strength and stability as a buyer sets us apart from our competition.”

Coronal’s Solar Acquisition Program will focus on utility-scale solar PV projects 5 MW and larger in North America. Coronal says it will review projects under any stage of development, including operational projects.

“We will be an exceptional partner for sellers seeking an experienced, efficient and motivated buyer,” comments Danny Van Clief, chief commercial officer for Coronal Energy. “Our team has worked on solar projects in almost every U.S. state, and having sold projects ourselves, we know how to treat sellers fairly. A reputation as a premier buyer is one of our primary goals.”

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