Lead Investor In Calpine Acquires Commercial & Community Solar Developer

ECP, the lead investor in a consortium of investors that owns Calpine, announced that it has acquired Pivot Energy ("Pivot" or the "Company"), a national commercial and community solar developer.

Financial details of the transaction were not disclosed.

Founded in 2009, Pivot offers a distributed solar development platform and develops, finances and manages commercial and community solar projects across the U.S.

Pivot serves the full commercial solar ecosystem, including retail customers, project developers, system operators, utilities and financiers, while also providing community solar to local governments, school districts, non-profits, low income housing authorities and residential customers.

"The acquisition will provide Pivot with increased access to capital to bolster its growth and leadership position within the community solar sector, which has become the fastest growing solar subsegment. It will also allow Pivot to transition to a model of aggregating and managing attractive recurring cash flowing assets through in-house development, co-development partnerships and acquisitions," ECP said