SUSI Partners, a Swiss investment firm, has acquired a controlling interest in Vermont-based distributed solar and energy storage developer Encore Renewable Energy, the companies announced.
The investment will allow Encore Renewable Energy to transition from a developer and engineering, construction, and procurement provider into an independent power producer. SUSI Partners made the equity investment through its Energy Transition Fund.
With the support of SUSI Partners, Encore Renewable Energy aims to develop over 500 MW of distributed solar and energy storage projects, in addition to a portfolio of utility-scale systems, over the next five years.
Encore Renewable Energy has historically specialized in brownfield solar project development in the Northeast. The company was a first-mover in the space, led by CEO Chad Farrell, who began his career as a brownfield remediation engineer.
"Brownfields to brightfields has always been in our DNA," Farrell said.