Wollemi, Rest take majority stake in US solar operator Redball
What's the deal? Growth investor Wollemi CapitalDealroom has a profile for this one. Try Dealroom → and Australian superannuation fund RestDealroom has a profile for this one. Try Dealroom → have acquired a majority stake in Redball EnergyDealroom has a profile for this one. Try Dealroom →, a Washington, DC-based owner and operator of distributed solar assets. Terms were not disclosed. Redball runs about 4,500 rooftop solar systems on homes and businesses across the Mid-Atlantic and New England.
What's the endgame? The capital funds Redball's next growth phase: expanding its installer partner network, entering more markets across the Mid-Atlantic and Northeast, and adding battery storage. The company says it has doubled its portfolio every year since its 2021 founding.
Why now? The deal extends Wollemi's distributed-energy strategy to the US for the first time. It follows Wollemi and Rest's expanded ~US$240 million (US$226.5M) commitment to MPowerDealroom has a profile for this one. Try Dealroom →, a solar-and-storage platform in Australia.
What they're saying: Redball chief executive officer Zach Axelrod said Wollemi's backing gives the company "the capital and long-term partnership to take it even further." Wollemi US co-head Natalie Volpe said "the opportunity for distributed energy in the US is significant as electricity demand rises."
The signal: The deal fits a broader investor push into distributed-energy platforms. BlackRock's Global Infrastructure PartnersDealroom has a profile for this one. Try Dealroom → has agreed to take a majority interest in solar platform Summit RidgeDealroom has a profile for this one. Try Dealroom →, and Goldman Sachs Alternatives is acquiring RWEDealroom has a profile for this one. Try Dealroom →'s US distributed-clean-energy business. Redball stands out as a cross-border growth bet, though its undisclosed terms make its scale hard to measure against larger deals.
Read more: miragenews.com
Image credit: Redball Energy
