Solar

Borrego sells its solar and storage development business to focus on EPC

Borrego sells its solar and storage development business to focus on EPC
A Borrego-built, 6.7 MW solar project in Ellensburg, Washington. The single-axis tracker project is owned by Greenbacker (Photo: Borrego)

Borrego has spun off and sold its solar and energy storage development business to maximize its focus on engineering, procurement, and construction (EPC) work.

Energy transition investment firm ECP will take over Borrego's development business, staff, and project pipeline of over 8.4 GW of solar and 6.4 GW/25 GWh of energy storage.

Borrego CEO Mike Hall said in a statement his company will continue to invest in its EPC and operations and maintenance business units. Borrego currently manages the performance of 1.4 GW and over 1,000 solar operating assets.

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“We are seeing tremendous opportunities in Borrego’s EPC and O&M services," Hall said. "This sale ensures we can invest in our people and build the technology that will position them to capitalize on what will be a record-breaking decade for solar and storage deployment in the United States."

As part of the agreement, ECP will operate Borrego's development business unit as an independent company and retain the current team and business strategy. The new renewable energy development business will be headquartered in Lowell, Mass., and will be led by Dan Berwick, who currently serves as Borrego's president of the development business.