Catalyze has secured a $400 million multiyear debt facility from ATLAS SP Partners, marking a significant step forward in its mission to advance distributed renewable energy solutions across the United States. This facility is set to play a pivotal role in Catalyze's strategy to scale its operations, leveraging the company's existing 300MW project portfolio and a robust development pipeline that promises more than 1GW of potential investment opportunities.
The new funding will support the construction and integration of Catalyze's expanding portfolio, which encompasses commercial, industrial, community solar, and battery storage projects nationwide. This initiative aligns with the US Energy Information Administration's (EIA) forecast predicting record levels of power consumption in 2025 and 2026. The EIA anticipates power demand to increase from 4,082 billion kilowatt-hours (kWh) in 2024 to 4,179 billion kWh in 2025, and further to 4,239 billion kWh in 2026.
"This facility is a critical milestone for Catalyze in our strategy to scale distributed renewable energy solutions for businesses and communities across the US and will enable us to double in size by the end of the year, reaching 300MW in operation," stated Jared Haines, CEO of Catalyze.
The support from ATLAS SP Partners offers Catalyze enhanced flexibility in its expansion plans, simplifying the financing process for forthcoming projects. Catalyze's growth trajectory is further strengthened by continued backing from its private equity investors, EnCap Investments and Actis.
"At ATLAS, we are proud to support Catalyze as they continue to lead in distributed energy project development. With our extensive experience in solar asset-backed financings, we were able to provide Catalyze with added flexibility that will help them execute on their expansion goals," commented Can Baysan, managing director at ATLAS.
Catalyze’s ambitious objective is to reach 300MW in operation by the end of the current year. The company’s strategic initiatives are poised to cater to the increasing energy demands projected by the EIA, ensuring a sustainable and scalable approach to renewable energy deployment.
