Member Spotlight: Accelergen EnergyWednesday, June 14th 2023
Tell us about your company in 3 sentences or less.
We are a developer of greenfield utility scale solar, solar + storage and stand alone storage projects in the U.S. We recently secured funding from Leyline Renewable Capital of $30m which will accelerate our growth establishing an initial multi-gigawatt portfolio of projects.
What is your role in the energy transition and how are you unique in the sector?
We identify the best locations within the right markets to create projects and take them to construction notice-to-proceed. We are approaching development differently than most by conducting grid and commercial analytics first to drive our land acquisition and development efforts including hiring those skill sets in-house early on. The senior leadership team is more experienced than most of our competitors having successfully built and sold renewable energy development companies before.
What are the macro trends currently affecting you?
The tailwinds include the extension of tax incentives for renewables and storage for 10 years under the Inflation Reduction Act signed into law last fall and the growing demand for our projects to meet net-zero carbon goals for power generation. Headwinds include equipment supply chain challenges arising from tariffs on Chinese equipment and the need to avoid forced labor content however that issue is beginning to be addressed by incentives for domestic manufacturing of solar panels and battery systems.
What are your most recent updates and what does 2023 have in store for you?
We secured funding of $30m from Leyline Renewable Capital recently. My founding partner (Josh Skogen) and I have hired a SVP Grid & Commercial Analytics (Adam Foltz, formerly of AES Clean Energy) and a Director of Commercial Analytics (Stephen Benchluch, formerly of Invenergy). We are currently recruiting for a Development Manager and a Director of Grid Analytics. We will be hiring approximately another 6 team members in 2023 and establishing our initial portfolio of solar and storage projects in the western U.S.
Why did you decide to join Dynamo? What aspect of your membership are you happiest with?
We decided to join after being introduced to Meade Harris by one of Dynamo’s advisory board members. I liked the network Dynamo had started to build as well as the discount on the co-working space and access to other hubs for travel. I’m happiest with the Cleantech Founders Breakfast Club monthly breakfasts, the industry contacts I’ve made at the Austin Hub and the periodic Austin Hub events. Though I haven’t been able to attend the events at the other Hubs yet.
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