The move builds on and expands Madison's municipal and K-12 clean energy
portfolio, as Sun Tribe sharpens its focus on the utility- and
community-scale solar markets.
CHARLOTTESVILLE, Va. and RICHMOND, Va., April 16,
2024 /PRNewswire/ -- Clean energy developers Madison
Energy Infrastructure (Madison)
and Sun Tribe today announced that Sun Tribe has divested its
commercial assets, pipeline, and development team to long-time
partner Madison. Through this
acquisition, Madison — a leading
clean infrastructure platform with over half a gigawatt of assets
across more than 25 states — builds on its mission to deliver
operational value, certainty, and sustainability to ambitious
organizations and communities.
Sun Tribe Solar — the commercial business unit of Charlottesville-based Sun Tribe — pioneered
and scaled the K-12 solar market in Virginia over the past seven years, helping 94
schools in 21 counties deploy clean, affordable power. Madison is a strategically aligned partner of
Sun Tribe, having transacted with all five of Sun Tribe's business
units and having served as the preferred asset owner partner for
its commercial business for several years.
The recent asset purchase agreement includes Sun Tribe's current
commercial projects, future commercial pipeline, and the onboarding
of Sun Tribe's commercial development team. Rich Allevi, who most recently served as
president of Sun Tribe Solar, will continue to lead the commercial
development team now under Madison, which will remain in Charlottesville.
"This acquisition is a strong next step in Madison's current trajectory of growth and
increased impact," said Ben Hunter, CCO at Madison. "We value community and collaboration
in a way that's naturally aligned with the values of the Sun Tribe
team, and we know that this evolution of our longtime partnership
can achieve great things in the U.S. solar schools space."
This transaction results in a sharpened focus for Sun Tribe on
the utility- and community-scale solar markets in the Appalachia, Mid-Atlantic, and Southeast
regions via its businesses spanning key stages of the value chain:
Sun Tribe Development, led by Danny Van
Clief; Sun Tribe EPC, led by Sean
Rooney; and Sun Tribe Asset Management, led by Ryan Tully.
"We see this exciting integration as a success on multiple
fronts. The Sun Tribe Solar team can now apply their talents and
experience in new markets through Madison's nationwide footprint,"
said Devin Welch, chairman at Sun Tribe. "Meanwhile, Sun Tribe
will continue to strengthen its focus on our fast-growing utility-
and community-scale businesses. As we do, we look forward to a
continued partnership with Madison."
The mutually beneficial transaction allows Madison to increase the reach and impact of
Sun Tribe Solar's efforts to solarize schools, expanding the model
across its 25-state footprint. Working under Madison, the commercial development team can
now integrate origination and project development with construction
and operation of projects without the need for a third-party asset
owner. The student-focused, curriculum-enriching work of the Solar
Empowered Schools program will also carry on under Madison's ownership.
"I'm proud that, over the past seven years, our team's efforts
have saved school districts millions of dollars and allowed tens of
thousands of students the opportunity for hands-on learning that
opens up future career paths," said Allevi. "The fact that we can
now bring this work to new corners of the country under
Madison's roof is incredibly
exciting. We're ready to see just how much positive impact we can
have."
About Madison Energy Infrastructure
Madison Energy Infrastructure is a leading clean energy partner
committed to delivering sustainable results with certainty, speed,
and trust. Our robust portfolio—comprised of over half a gigawatt
of clean energy infrastructure assets across more than 25 states—is
bolstered by the strength of our globally renowned investors and
capital partners. We offer a comprehensive suite of services from
project development and engineering to construction, financing, and
long-term asset management. What sets us apart is our team's
commitment to addressing complex challenges and making the
transition to clean energy simple, efficient, and profitable. With
a proven track record of successfully executing hundreds of
projects, we are unwaveringly focused on exceeding expectations and
achieving meaningful results for our partners and customers.
About Sun Tribe
Founded in 2016 and headquartered in Charlottesville, Virginia, Sun Tribe has grown
into one of the largest clean energy companies in the Mid-Atlantic
region. Sun Tribe delivers legacy-grade projects that translate
into long-term value for partners. The Sun Tribe approach is
focused on diligent upfront de-risking, best-in-class development,
and turnkey engineering, procurement, and construction services —
all while forging ongoing relationships with our partners built on
a foundation of trust. With a team of more than 80 renewable energy
experts, Sun Tribe has completed more than 100 clean energy
projects to date. The team has previously developed and built solar
facilities in 20 states for leading partners including Dominion
Energy, Duke Energy, Exelon, Pacific Power, PSEG, the United
States Air Force, and the United States Navy. To learn more visit
www.suntribesolar.com.
Media Contacts
Crystal Williams, Marketing
Director, Madison Energy Infrastructure
cwilliams@madisonei.com
(470) 591-1745
Nikki Arnone, Director,
Inflection Point Agency for Sun Tribe
nikki@inflectionpointagency.com
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SOURCE Madison Energy Infrastructure