Washington, DC-based cleantech firm CleanChoice Energy, which enables individuals and businesses to access climate-friendly solutions, has secured an investment from True Green Capital Management (TGC). While the exact amount of the deal remains undisclosed, it is expected to close within 60 to 90 days.
TGC plans to retain the CleanChoice brand and team, investing an additional $100 million in capital for the development, acquisition, ownership, and operation of CleanChoice’s solar projects.
Under the leadership of CEO Tom Matzzie, CleanChoice operates as an independent green gen-tailer, owning solar generation assets and selling renewable energy to customers in various competitive markets throughout the US. The company’s development portfolio currently holds over 300 MW in different stages of development, and it is actively seeking acquisition and co-development opportunities in its target territories.
The deal with TGC will extend the company’s solar power generation reach to include 16 US states, such as Pennsylvania and Ohio, and approximately 215,000 residential customers. The initial focus will be on the ISO-NE, NYISO, and PJM markets. Over the next five years, CleanChoice aims to develop, construct, and operate its project portfolio, providing more consumers with accessible, convenient, and entirely pollution-free energy solutions.