As global concern over climate change increases, so does the demand for affordable, renewable energy sources.
In 2018, 10.6 GW of solar capacity was installed in the US, generating over $US17 billion in investments1. The total PV capacity in the US is expected to more than double by 2024 with an average of 15 GW coming online annually1. This will translate into direct investments of close to $US100 billion.
Over the past decade the Candela Renewables team collectively developed 26 solar projects in six states creating more than 6 GW of renewable energy capacity for some of the world’s largest corporate energy users.
Upon launching Candela in June 2018, founders Brian Kunz and Nik Novograd set out to develop the US’ most reliable, cost effective and efficient solar power projects.
Macquarie’s Green Investment Group (GIG) partnered with Candela to create an industry-leading, utility-scale solar development platform.
Over the next five years, GIG will back Candela in the strategic deployment of its solar development expertise.
Under a Development Services Agreement, Candela will add to its existing project portfolio by leading the development of more than 1 GW of new energy projects.
The partnership aims to create a steady stream of utility-scale renewable assets serving a broad range of clients and industries. Assets created will be sold to utilities across the US with many providing energy to corporations in the form of Power Purchase Agreements.