Nexamp, a Boston, MA-based clean energy company, raised more than $400M in funding.
The round was led by U.S. Bancorp Impact Finance and Mitsubishi UFJ Finance Group (MUFG).
The company intends to use the funds to support the creation of 49 solar and battery storage projects in six states spanning the Northeast, Mid-Atlantic, and Midwest and enable more than 25,000 households to receive a combined $6.5 million in estimated annual electricity bill savings.
Led by CEO Zaid Ashai, Nexamp is able to bring rapid deployment of renewable energy and high-quality jobs to communities by managing all aspects of a project’s lifecycle in-house, from development, engineering and construction to operations and customer management. In 2015, the company launched the first open community solar program that eliminates credit checks, upfront charges and long-term commitments to help customers save an average of 10-20% on annual electricity costs. Today, Nexamp serves more than 60,000 customers and has a portfolio of more than 1 gigawatt of generating capacity capable of powering more than 155,000 households, with many more gigawatts of capacity under development in approximately 20 states.
FinSMEs
01/06/2023