Investments, financing deals, and project acquisitions mark a period of activity among U.S. Solar Companies, even as new tariff measures targeting imports from Southeast Asia loom. Recent announcements highlight capital flowing into utility-scale projects, distributed generation, and community solar portfolios across the country.
AIP Management has committed to invest $500 million in Silicon Ranch, one of the largest independent power producers in the United States. Silicon Ranch operates across 15 U.S. states and Canada, with a portfolio including 3.6 GW of operating capacity and a near- and mid-term pipeline exceeding 12 GW. Kasper Hansen, CEO and managing partner of AIP, noted the investment supports Silicon Ranch's continued growth.In California, EDF Renewables North America closed financing for the Desert Quartzite Solar + Storage Project in Riverside County. The project, jointly owned with Power Sustainable Energy Infrastructure Inc., includes 375 MWdc solar combined with a 150 MWac/4-hour battery energy storage system. Financing included participation from banks like KfW IPEX-Bank, MUFG Bank Ltd, Export Development Canada, and Korea Development Bank.Catalyze secured an $85 million tax equity investment from RBC Community Investments. The funding will support construction of approximately 75 MW of commercial and industrial and community solar projects nationwide in 2025. This investment adds to Catalyze’s distributed generation portfolio, which totals 300 MW in operations and construction. Jared Haines, CEO of Catalyze, stated the financing enables the company to advance its mission to bring scalable distributed generation projects to businesses and communities.
Procurement programs also saw recent partnerships. DSD Renewables secured a master contract with School Project for Utility Rate Reduction (SPURR) as the chosen developer partner for its Renewable Energy Aggregated Procurement (REAP) Program in California. This partnership offers solar and energy storage solutions to public agencies, including K-12 schools and community college districts, based on competitively sourced terms. Kevin Flanagan, REAP program manager at SPURR, commented that DSD emerged as the winning vendor through the competitive proposal process.
Separately, the DC PACE Program and PACE Equity announced $1.1 million in financing for sustainability improvements, including solar panels, for a multi-family housing building in Washington, D.C. Ronald Hobson, DC PACE Program Director, indicated the financing helps add housing while setting a benchmark for sustainability.
On the acquisition front, the New York Power Authority (NYPA) acquired the Somers Solar project from Clean Peak LLC, a subsidiary of CS Energy LLC. Located in Fort Edward, New York, the 20 MW project is the first owned and operated by NYPA under recently expanded authority and a new strategic plan. Standard Solar also acquired two community solar projects totaling 9 MW in Illinois from Cenergy Power, increasing its presence in the state. Chad Chahbazi, senior VP at Cenergy Power, highlighted the successful development reflects commitment to expanding renewable energy solutions.
These domestic activities occur as the U.S. International Trade Administration announced final determinations imposing anti-dumping and countervailing duty tariffs on solar imports from Cambodia, Malaysia, Thailand, and Vietnam. Tariffs range widely, with some exceeding 3,000%. These tariffs are scheduled to take effect June 9, 2025, and build on earlier proposed general tariffs announced in April, though those were temporarily paused for 90 days.
Southeast Asia supplied 48GW of solar panels to the U.S. in 2024, representing 88% of total imports. The tariff action prompts Southeast Asian manufacturers to consider diversifying markets, including potentially increasing domestic renewable energy installations within their own countries. This approach could help absorb export-focused output and provide regional economies a hedge against volatile global energy markets.
Jeff Keebler, chairman, president and CEO of Madison Gas and Electric (MGE), speaking on their partnership with We Energies and Wisconsin Public Service to purchase solar and battery storage from the High Noon Solar Energy Center in Wisconsin, said, “By growing our use of cost-effective carbon-free generation to decarbonize our grid and by working with customers to advance energy efficiency and electrification, we can achieve our sustainable energy goals.”
