Apr 28, 2022, 13:30 ET
LOS ANGELES, April 28, 2022 /PRNewswire/ -- Coast Energy Holdings, LLC ("Coast Energy"), a nationwide commercial and industrial solar PPA provider, announced today that it has received a substantial growth investment from Houston-based Crosstimbers Capital Group ("Crosstimbers"). With this investment, Coast Energy will accelerate its fast-growing commercial solar development and PPA financing platform.
"Crosstimbers is excited to support Coast Energy as they advance the development of solar and energy storage projects across the commercial real estate market" said Ian Kocher, a member of the Crosstimbers team. "Coast Energy is led by a seasoned team that has a tremendous track record in the industry, and they are building a best-in-class offering that will provide significant value to commercial real estate owners".
With the Crosstimbers investment, Coast Energy is rapidly expanding its team and plans to develop, own, and operate over $400 million worth of solar, energy storage and related energy projects throughout the United States. The firm is currently securing projects in California, Hawaii, and New York and building a pipeline of projects in multiple states across the Northeast, Midwest, and West Coast.
"We are thrilled to partner with Crosstimbers and become part of the extraordinary ecosystem they are creating," said Blair Herbert, Coast Energy's Founder and CEO. "Crosstimbers' investment provides Coast Energy support from an unbelievable team and capital that will allow us to be positioned as a leader in the commercial solar market. We are creating a unique offering that delivers substantial value to commercial customers and are excited to leverage our long-standing experience in the market to become a leading commercial solar provider across the U.S."
Coast Energy is a rapidly growing commercial and industrial ("C&I") solar energy firm that offers innovative systems which provide solar energy to commercial businesses that drive significant value to its clients and disrupt the way commercial building owners purchase electricity.
The Coast Energy team has more than 50 years of combined experience in the solar industry and has participated in over $1 billion in solar transactions. The company offers C&I real estate owners a simpler path to solar energy. By removing cost barriers and the hassle associated with installing solar systems, Coast Energy offers tailored solutions to CRE owners that add immediate value to their properties. For more information, visit www.coastenergy.com.
About Crosstimbers Capital Group
Based in Houston, TX, Crosstimbers Capital Group provides formation capital to scalable platform companies that acquire, develop, and operate hard assets. For more information, visit www.crosstimbers.com.
SOURCE Coast Energy
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