Strata Clean Energy, a nationwide provider of utility-scale clean energy projects, has acquired Crossover Energy Partners, a clean energy solutions company experienced in developing end-to-end energy transition products for utilities and large energy users.
This acquisition expands Strata’s offerings and execution capabilities by incorporating Crossover’s customer origination and power offtake competencies and other proficiencies that deliver on renewable energy initiatives, decarbonization strategies, and the development of new technologies like green hydrogen.
“Strata’s acquisition of Crossover bolsters our ability to bring high-value energy solutions to our clients across several market segments and geographies,” says Joshua Rogol, chief development officer for Strata. “The Crossover team has a well-defined track record of innovative product development and financing of differentiated power offtake structures. The combination of our platforms will be valuable to Strata as we grow our development pipeline to over 15 GW this year.”
The acquisition will enhance Strata’s growth, leveraging key Crossover relationships with numerous clients such as municipalities, co-ops, community choice aggregators (CCAs), investor-owned utilities (IOUs) and large industrial entities.
“Crossover’s track record illustrates the importance of product design and offtake origination to maximize value for renewable projects,” adds Tiago Sabino Dias, CEO of Crossover. “Combining our team with the expert development capabilities at Strata will be a win-win and an evolution that our entire team is looking forward to.”
While specifics of the deal remain confidential, Strata is purchasing 100% of Crossover’s assets and interest in its development platform. Sabino Dias and President Michael Grunow will take on senior roles within Strata, and all Crossover employees will merge with the Strata platform.