- Borrego is spinning out its solar and storage procurement platform, Anza Renewables.
- The Anza platform has so far been used for 1.9 GW of module sales.
Borrego, a leading clean energy engineering, procurement, and construction firm, is spinning out its solar and storage procurement platform, Anza Renewables, as a standalone company.
A consortium led by Energy Capital Partners is providing fresh funding for Anza Renewables to support the transition. Terms of the transaction were not disclosed.
Launched in September 2022, Anza aims to connect solar and storage equipment buyers with a pool of pre-vetted, top-tier suppliers through its marketplace.
The platform allows developers, independent power producers, utilities, and EPCs to evaluate equipment based on total lifetime value rather than only upfront $/watt cost. The Anza platform has so far been used for 1.9 GW of module sales.
Borrego and Anza CEO Mike Hall said, “The status quo of solar and storage procurement is incredibly inefficient. We believe Anza can increase the financial return and reduce the lead time for any solar or storage project by revolutionizing the major material procurement process, helping to accelerate the adoption of renewable energy.”
According to a spokesperson, Hall will remain CEO of both Borrego and Anza until the end of August, at which point he will step down as Borrego’s CEO and remain on the company’s board of directors.
Borrego’s spinoff of Anza Renewables is the latest move for the EPC and O&M provider to focus its position in the clean energy market.