Strata Clean Energy, a nationwide provider of utility-scale clean energy projects, has acquired Crossover Energy Partners, a clean energy solutions company experienced in developing end-to-end energy transition products. energy for utilities and large energy users. This acquisition expands Strata’s execution offerings and capabilities by including Crossover’s customer origination and power offtake capabilities and other capabilities that deliver renewable energy initiatives, decarbonization strategies, and 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.
The acquisition will enhance Strata’s growth, leveraging Crossover’s key relationships with many clients such as municipalities, co-ops, community choice aggregators (CCAs), investor-owned utilities (IOUs) and large industrial entities.
“Crossover’s track record illustrates the importance of product design and offtake origination to maximize the value of renewable projects,” added Tiago Sabino Dias, CEO of Crossover. “Combining our team with the development skills of Strata’s experts will be a win-win and an evolution that our entire team is looking forward to.”
While the details of the deal remain confidential, Strata has purchased 100% of Crossover’s assets and interest in its development platform. Sabino Dias and President Michael Grunow will take on senior roles within Strata, and all Crossover employees will integrate into the Strata platform.