Agilitas Energy Raised $350-Million To Expand Renewables And Storage In US

Agilitas Energy, which mainly claims to be the largest energy storage and solar PV company in the north eastern region of the United States and has now announced that, it has raised 350 million dollars of the equity in an investment from the funds that are managed by the CarVal Investors.

According to an official statement made by Agilitas Energy, the amount of the investment might be further upsized to 650 million dollars upon the completion of the certain projects. The funds that are managed by CarVal had also assumed a minority position in the Agilitis Energy and the companies have also established a joint venture for owning and operating the energy assets.

The company said that, CarVal investment is going to be accelerating the development, operation and construction of the company of over 500 megawatts of the utility-scale and distributed energy storage and solar PV projects. The renewable energy company has informed that, it is going to be leveraging the expertise and experience of the company for the purpose of expanding across the country by building its existing project pipeline during developing and acquiring the projects from across the United States.

Barrett Bilotta, president of the Agilitas Energy said, with the experienced management team of the company, the existing project pipeline and organizational expertise combined with the support of the CarVal investment and they are all well positioned for expanding across the United States.