Strata Clean Energy has acquired Phoenix, Arizona-based Crossover Energy Partners, a utility-scale renewable energy project developer. This acquisition expands Strata’s offerings and includes Crossover’s customer origination and power offtake competencies and other renewable energy services, including decarbonization and the development of new technologies such as green hydrogen.
“Strata’s acquisition of Crossover strengthens our ability to bring high-value energy solutions to our clients across multiple market segments and geographies,” said Joshua Rogol, chief executive officer. to develop the Strata. “The Crossover team has a well-defined track record of new product development and funding in a variety of power offtake structures. The combination of our platforms will be invaluable to Strata as we grow our development pipeline to over 15 GW this year.
Strata intends to use Crossover’s experience in large-scale project development, working with municipalities, electric cooperatives, community choice aggregators, investor-owned utilities and industry entities, to continue the utility’s solar and storage projects.
“Crossover’s track record illustrates the importance of product design and offtake origination to maximize the value of renewable projects. Combining our team with Strata’s expert development skills will be a win-win and an evolution that our entire team is looking forward to,” said Tiago Sabino Dias, CEO of Crossover.
The details of the acquisition remain confidential, but Strata is buying 100% of Crossover’s assets and interest in its development platform.
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