Hawthorne Renewables, a newly established solar development company backed by significant industry experience and capital, today (June 28) announced its launch at the company's Phoenix headquarters.
Hawthorne Renewables is the result of a merger between Power Capital Energy Group and Portland, Ore.-based Sulus Solar. Since its inception in 2016, Sulus Solar and its founders, Colin Murphy and Conor Grogan, have rapidly scaled the company to deliver more than $150 million of solar projects across Oregon and Washington. Murphy and Grogan will lead Hawthorne Renewables with a focus on developing, building and owning large-scale solar projects across the United States.
"We're incredibly proud of the success we've had, and have a huge appetite to ramp up our operations with new infrastructure from this merger," said Grogan. "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."
Financial backing for this investment is provided by Omnes Capital, a $5.2 billion green energy private equity firm based in Europe. Omnes Capital has successfully invested in several renewable energy development platforms across Europe. Hawthorne Renewables marks the first U.S. venture for the Paris-based company. Omnes Capital intends to invest $250 million over the next three to four years in the United States through Hawthorne Renewables.
"We are extremely excited about teaming up with Omnes Capital - their significant experience and resources complements the skills and strengths of our U.S. solar knowledge," said Murphy. "The Hawthorne Renewables team is well positioned to achieve our target of 2GW of operational solar assets in the next five to seven years."
"We thoroughly analyzed a large set of potential development platform companies for our entry to the U.S., followed by extensive third-party legal and technical due diligence on the Sulus Solar platform," said Justin Brown, co-founder and co-chief executive of Power Capital. "Conor and Colin stood above the pack as ideal partners amidst a dynamic and competitive market."
Hawthorne Renewables will also have an office space in Portland. Learn more at hawthornerenewables.com.
Hawthorne Renewables, a joint venture of Power Capital Energy Group, Conor Grogan and Colin Murphy, is a solar development company based in Phoenix. Backed by Omnes Capital, Hawthorne Renewables is dedicated to developing, financing and operating solar projects across the United States.
