Key Takeaways
- • Pristine Sun Corporation announced a $250 million capital commitment from strategic private equity and family office investors to fund development of renewable energy projects, per a Business Wire release dated February 3, 2023.
- • The equity commitment is designed to let Pristine Sun develop, finance, and build up to 5 gigawatts (GW) of solar projects, depending on the capital stack structure.
- • Funding targets proposed and active projects in Texas, California, and Louisiana, with the option to pursue additional opportunities across the continental U.S.
- • Three planned projects will each exceed 1 GW, according to founder and chairman Troy Helming.
- • Since 1996, Pristine Sun and affiliates have developed more than 25 GW of solar and wind farms (including projects sold to others) and hold roughly 20 GW in the pipeline.
Summary
Pristine Sun Corporation, a Richmond, California-based developer of utility-scale solar and wind projects, has announced a $250 million capital commitment from strategic private equity and family office investors, according to a Business Wire release. The equity is intended to support acquisition, development, and ongoing operations, and will allow the company to develop, finance, and build up to 5 gigawatts of its solar projects, with the exact total dependent on the capital stack structure.
The capital will support proposed and active renewable energy projects in Texas, California, and Louisiana, and enable the company to explore additional opportunities in the continental United States. The company stated that it has developed solar and wind farms totaling over 25 GW since 1996, including projects sold to other parties, with another 20 GW currently in the pipeline.
Founder and Chairman Troy Helming said the company has an aggressive plan to rapidly develop significant solar projects in California, Texas, and Louisiana, with three projects expected to exceed 1 GW each. He noted that 1 GW is roughly the capacity of two to three large coal or natural gas plants, and that the funding will allow the company to develop, construct, and operate the projects to power hundreds of thousands of homes and businesses.
According to the company's description, Pristine Sun has been developing utility-scale projects since 1995 across 22 U.S. states and several other countries, and has built more than 350 solar power plants, including those sold to other companies. The company is 100% owned by the Helming family office. The release was issued as a company announcement and does not name the individual investors involved.
The capital will support proposed and active renewable energy projects in Texas, California, and Louisiana, and enable the company to explore additional opportunities in the continental United States. The company stated that it has developed solar and wind farms totaling over 25 GW since 1996, including projects sold to other parties, with another 20 GW currently in the pipeline.
Founder and Chairman Troy Helming said the company has an aggressive plan to rapidly develop significant solar projects in California, Texas, and Louisiana, with three projects expected to exceed 1 GW each. He noted that 1 GW is roughly the capacity of two to three large coal or natural gas plants, and that the funding will allow the company to develop, construct, and operate the projects to power hundreds of thousands of homes and businesses.
According to the company's description, Pristine Sun has been developing utility-scale projects since 1995 across 22 U.S. states and several other countries, and has built more than 350 solar power plants, including those sold to other companies. The company is 100% owned by the Helming family office. The release was issued as a company announcement and does not name the individual investors involved.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.