Palladium Energy, a renewable energy developer and investor in energy infrastructure, announced this Tuesday it secured additional capital from Treehouse Development Finance (TDF), through a joint venture it has with Oak Savanna Solar Investors.
Firstly, the amount of capital secured was not disclosed; however, the funds will push and expand the current market opportunities of the company to originate, acquire and also develop around 500 megawatts of new utility-scale solar and energy storage projects in the U.S.
Secondly, Palladium Energy has a deep experience in originating, developing, and financing energy projects across multiple technologies and markets; in fact, it has around 48 years of experience in power generation projects; including renewable and conventional resources. It has developed and financed 6,9 gigawatts and $2,8 billion in projects, respectively.
Thirdly, about the capital and its relevance for the JV, Danny Weidlich, Managing Partner at Palladium, stated. “This additional capital raise is a testament to not only the partnership between Palladium and Oak Savanna; but also, to the importance of solar and solar + storage projects to the energy transition.”
He also remarked. “We are thrilled to be working with TDF to acquire and develop a portfolio of utility-scale renewable energy projects.”
Also recommended for you: Camus Energy secures $16M to fund its grid management expansion. Click here to read.
Palladium Energy, an experienced developer in cross-technologies
Moreover, Todd Mehall, President of Oak Savanna, replied. “The TDF team brings perspective from their many years as renewable energy investors; as well as solar development expertise from their current portfolio of investments; both of which enhance the joint venture between Palladium and Oak Savanna.”
In addition, Raoul G Slavin Juliá, Managing Director at TDF, commented. “We are very excited to work with Palladium and Oak Savanna. They are an important addition to our early-stage renewable energy development finance platform.”
On the other hand, any financial or technical details about the projects that will be developed as a result of the capital secured, were not disclosed by the company; however, the company, as said above it has an extensive track record successfully developing, financing, constructing, and operating energy projects across the U.S. and abroad; and across technologies as well, from solar, wind and biomass.
Finally, John Brown, Chief Development Officer at TDF, commented. “Both Palladium and Oak Savanna have broad experience in the renewable energy sector; from operating to financing. We look forward to supporting their current and future business objectives; specially as they develop resilient, renewable energy projects in the eastern United States.”