Solar energy communities, fueled by a 520 million USD investment

Distributed solar and energy storage solutions developer and operator Nexamp recently raised 520 million USD to accelerate its growth and expansion to new markets, where it builds on renewables and energy storage solutions.

ESG Today writes that 2007-based Nexmap deploys and operates solar projects across the US, starting from installation and going all the way to maintenance. Nexmap currently serves a number of almost 80.000 customers and operates a portfolio of 1.5 gigawatts of green power.

Nexamp CEO Zaid Ashai said that "this landmark financing comes at a pivotal moment in the evolution of America’s energy economy, and underscores the indispensable role of community solar in democratizing access to clean, affordable energy solutions for every American."

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The company also has several gigawatts worth-of capacity planned for around 20 markets and said that the funding will be used to deploy more capacity in the US, while also accelerating the expansion to new markets.

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