Hawthorne Renewables, a newly established US solar development company, has unveiled its plans to operate 2GW of solar assets and invest $250 million in the US market over the next several years. The company emerged as a result of the merger between Power Capital Energy Group and Sulus Solar, two prominent players in the solar industry. With this union, Hawthorne Renewables aims to concentrate on the development, construction, and ownership of large-scale solar projects across the United States.
Sulus Solar, founded in 2016, boasts an impressive track record, having successfully delivered solar projects worth over $150 million in Oregon and Washington. The merger with Power Capital Energy Group has further strengthened their expertise and capabilities in the sector.
The merger received backing from Omnes Capital, a green energy private equity firm, which made its inaugural entry into the US market through this collaboration. Omnes Capital plans to invest $250 million in the US market over the next three to four years through Hawthorne Renewables, showcasing its commitment to sustainable energy initiatives.
Justin Brown, co-founder and co-chief executive of Power Capital, expressed their meticulous evaluation process in selecting the right development platform company for their entry into the US market. He noted, “Conor (Grogan) and Colin (Murphy, founders of Sulus Solar) stood above the pack as ideal partners amidst a dynamic and competitive market.”
Conor Grogan, one of the founders of Sulus Solar, emphasized Hawthorne Renewables' strong position in spearheading the clean power generation movement. He stated, “Hawthorne Renewables is well-positioned to sprint out of the gates with the experience, ambition, and capital to be a significant player in the clean power generation movement.”
