Coronal Group and Panasonic Make Strategic Investment in Blue Oak Energy to Support Continued Expansion of Blue Oak’s Engineering and EPC Business
This investment will allow Blue Oak Energy to expand its depth and breadth to meet the growing demand from its customer base.
Glendale, CA (September 22, 2015) - Coronal Group LLC (Coronal) and Panasonic Eco Solutions in North America (Panasonic) announced a strategic investment in Blue Oak Energy, a solar engineering and construction company. This investment will allow Blue Oak Energy to expand its depth and breadth to meet the growing demand from its customer base. Blue Oak Energy will continue to operate as an independent entity under the leadership of its Founder and CEO, Tobin Booth.
"This is a strategic investment by Coronal, which will provide resources to help fuel Blue Oak Energy's growth in the engineering and EPC sectors and ensure that the company can provide its long-term, loyal customer base with the service it has come to expect," said Jonathan Jaffrey, CEO of Coronal Group LLC.
Blue Oak Energy is focused on commercial and utility-scale solar power plants because it believes clean energy technology should be a high percentage of the energy mix and prioritized over other energy generation types. The company continues to grow by delivering solar facilities for businesses and world class, multidisciplinary engineering services across the United States. Today, Blue Oak Energy has engineered or constructed solar electric systems on over 600 distinct locations, across more than 30 states, totaling more than 1 GW.
"We are pleased to be partners with the high-integrity teams at Coronal and Panasonic. We now have a larger platform from which to expand our services and help our customers achieve their goals," said Tobin Booth, Founder and CEO of Blue Oak Energy.
"As part of one of the largest engineering-based firms, we are excited to have made this investment in a world-class renewable engineering firm. Panasonic is a Blue Oak Energy customer and pleased to support their growth and commitment to meeting increasing market demand," said Jamie Evans, head of Panasonic Eco Solutions in the U.S.
Marathon Capital served as exclusive financial advisor to Coronal and Panasonic. Media Venture Partners acted as exclusive advisor to Blue Oak Energy.
About Coronal Group LLC
Headquartered in Glendale, Calif., with offices in New Jersey and Virginia, Coronal Group LLC is a renewable energy company that develops, owns, and operates solar projects globally, with major initiatives in the United States, Canada, Latin America, and Asia. In partnership with Panasonic, Coronal's team of industry veterans brings unparalleled experience and leadership in distributed generation, integrated community and utility-scale solar PV projects, energy-as-a-service, and battery storage.
The Coronal-Panasonic platform, a comprehensive end-to-end solution, facilitates the development and commercialization of solar PV projects from inception through the life of the asset. With more than 2.5 GW of greenfield and brownfield projects in development or in the pipeline, Coronal continues to actively acquire solar PV assets in virtually any stage of development. For additional information, please visit CoronalGroup.com.
About Panasonic Enterprise Solutions Company
Panasonic Enterprise Solutions Company, a division of Panasonic Corporation of North America, develops, installs and maintains large-scale Eco Solutions and Audio-Visual Solutions for business and municipal customers. Serving customers across a wide range of industries, Panasonic Enterprise Solutions engineers custom-built applications using the latest technology, experience in end-to-end management of complex corporate projects and unparalleled onsite support services. Its Eco Solutions unit offers expertise in end-to-end solar energy projects while also delivering technological and financial solutions to the rapidly expanding commercial and industrial renewable energy markets. An industry leader in Audio-Visual Solutions, the company has installed some of the largest high-definition LED video boards in the world at many well-known sports and entertainment venues in the U.S. In Interbrand's 2014 annual "Best Global Green Brands" report, Panasonic ranked number five overall and the top electronics brand in the report. Learn more: panasonic.com/pressroom.
About Blue Oak Energy
Blue Oak Energy's mission is to make our sustainable energy future a priority by delivering real world solutions today. The company's technical leadership in commercial and utility scale solar engineering and distributed generation has helped establish the solar energy industry as the world's fastest growing electrical generation technology. Blue Oak Energy's comprehensive solar engineering, commercial and utility solar plant construction and technical due diligence are well acknowledged. Blue Oak Energy was founded in 2003 by CEO Tobin Booth and is headquartered in Davis, California. Additional information can be found at http://www.blueoakenergy.com.