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Why Borrego sold its solar and storage development business, doubled down as EPC

Borrego has spun off and sold its solar and energy storage development business and has doubled down as an engineering, procurement, and construction provider.
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Borrego has spun off and sold its solar and energy storage development business to maximize its focus on engineering, procurement, and construction work.

Energy transition investment firm ECP will take over Borrego's development business, staff, and project pipeline of over 8.4 GW of solar and 6.4 GW/25 GWh of energy storage.

Borrego CEO Mike Hall said his company will continue to invest in its EPC and operations and maintenance business units. Borrego currently manages the performance of 1.4 GW and over 1,000 solar operating assets.

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“We are seeing tremendous opportunities in Borrego’s EPC and O&M services," Hall said. "This sale ensures we can invest in our people and build the technology that will position them to capitalize on what will be a record-breaking decade for solar and storage deployment in the United States."

As part of the agreement, ECP will operate Borrego's development business unit as an independent company and retain the current team and business strategy. The new renewable energy development business will be headquartered in Lowell, Mass., and will be led by Dan Berwick, who currently serves as Borrego's president of the development business.

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