Agilitas Energy Equity Funding

Wakefield, MA - Agilitas Energy, the largest integrated developer, builder, owner and operator of distributed energy storage and solar photovoltaic (PV) systems in the northeastern U.S., today announced it has raised $350 million of equity in a two-tiered investment from funds managed by CarVal Investors L.P. The investment will fund a national footprint build-out of Agilitas Energy’s large pipeline of renewable energy and battery storage systems. The investment amount may be further upsized to $650 million upon the completion of certain projects. Funds managed by CarVal have assumed a minority position in Agilitas Energy and the companies have established a joint venture to own and operate the energy assets.

Broad-scale adoption of renewable energy and battery storage is a mandate for transitioning from reliance on fossil fuels to clean energy. CarVal’s investment will accelerate Agilitas Energy’s development, construction and operation of more than 500 megawatts (MW) of distributed and utility-scale energy storage and solar PV projects that will help on the path toward America’s net zero greenhouse gas emissions goal. Agilitas Energy will leverage its expertise and experience to expand nationally by constructing its existing project pipeline while actively acquiring and developing projects from across the country.

“To effectively transition our energy systems away from fossil fuels, we need to rapidly increase the number of renewable energy and storage projects that are successfully interconnected to the grid,” said Barrett Bilotta, President of Agilitas Energy. “With our experienced management team, existing project pipeline and organizational expertise combined with the support of CarVal, we’re well positioned to expand nationally and help make a dent in our country’s decarbonization goals. CarVal adds significant value beyond their capital. They are smart business athletes with real-world energy and business acumen who will be true partners as we execute our growth plan.”

Agilitas Energy’s core competencies include project origination, development, project engineering, debt and tax equity financing, engineering procurement and construction (EPC) and asset management – including energy storage revenue optimization. The company has developed a proprietary bidding and forecasting model called, Intelligent Power Dispatch, that helps optimize revenue by predicting market conditions in day-ahead and real-time energy markets.

Moving forward, Agilitas Energy will be focused on developing projects that will be owned by the new joint venture and managed by Agilitas Energy’s asset management group.

Agilitas Energy is currently hiring for roles across the major functional groups of the company with a particular focus on adding to the development team.