The newly-renamed Coronal Energy on Sept. 12 announced that Panasonic has increased its ownership position in the company, marking a new phase in a partnership following on four years of collaboration.
Concurrently, Coronal announced that it changed its name from Coronal Group LLC to Coronal Energy.
“At a time when the solar industry is maturing and consolidating, smaller players are facing an uncertain future, and some larger players have declared bankruptcy, Panasonic is making a statement that it’s committed to the future of solar energy in North America for the long term,” said Jamie Evans, managing director of the Energy Solutions Group at Panasonic Enterprise Solutions, a division of Panasonic Corporation of North America. “In close alignment with Coronal, we believe the future of solar in this country is very bright, and we’re excited to strengthen our leading role in making that happen.”
“In today’s energy landscape, not all solar is created equal. We firmly believe Coronal Energy, powered by Panasonic, offers a smarter way to pursue solar, and for our customers that translates into smarter business,” said Jonathan Jaffrey, chairman and CEO of Coronal Energy.
Coronal Energy focuses on renewable energy solutions—including solar photovoltaic and battery energy storage—for diverse enterprise customers across North America, including utilities, corporations, the public sector, educational institutions, and other organizations. Its portfolio includes projects in 40 U.S. states totaling 2.3 GW, with more than 3.4 GW of additional greenfield and brownfield projects under construction/contract, in development or in the pipeline. Coronal Energy maintains offices across North America in California, Colorado, New Jersey, Virginia, and Toronto.
Panasonic Enterprise Solutions develops, installs, and maintains large-scale energy solutions and sensory solutions for utility, business, government, and institutional 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 projects, and unparalleled onsite support services.
In December 2014, Panasonic made an initial strategic investment in Coronal, followed by a second investment in September 2016. Coronal announced the acquisition of HelioSage Energy, a leading utility-scale solar project developer, in February 2015. In September of the same year, Coronal and Panasonic announced a strategic investment in Blue Oak Energy, a commercial and utility-scale solar engineering and construction company founded in 2003. Coronal Energy also continues to actively acquire solar PV assets in virtually any stage of development. The company has major initiatives in the United States and Canada.