Nexamp Secures $600M to Expand Solar and Storage Portfolio

Nexamp has closed on a $600 million aggregation facility with ATLAS SP Partners to support its growing portfolio of U.S. distributed solar and energy storage projects. 

The facility enables Nexamp to efficiently fund projects at the start of construction while retaining the flexibility to convert to term financing within the same structure. Once the company reaches a critical mass of operating assets, it plans to pursue an asset-backed securitization (ABS) to support its ongoing strategy of scaling clean energy access through capital-efficient growth. 

The announcement builds on Nexamp’s recent financing activity, which includes transactions of $350 million and $330 million completed in the past several weeks, for a total exceeding $1.2 billion in just one month. 

“This partnership with ATLAS underscores the strength of Nexamp’s platform and the maturity of distributed energy as an investable asset class,” said Zaid Ashai, CEO of Nexamp, in a statement. “As energy demand surges nationwide, solar has proven to be the most cost-effective and fastest-to-deploy resource available today. This facility ensures that Nexamp can continue to deliver the reliable, clean power that communities and businesses need now.” 

With the ATLAS facility in place, Nexamp can move forward with building out new solar and storage capacity across the country. 

Can Baysan, Managing Director at ATLAS, added, “Nexamp has established itself as a leader in the expanding distributed generation market, and we are pleased to partner with them for this facility. Their integrated approach and proven ability to execute at scale make this collaboration an important step in accelerating the deployment of clean, reliable energy projects nationwide.” 

Read more here.