Marathon Capital sells groSolar to EDF Renewable Energy

Marathon Capital successfully sold Global Resource Options, a distributed generation solar power firms, to EDF Renewable Energy.

groSolar, a privately owned company with SJF Ventures and NGP Energy Technology Partners as owners, has developed, designed, and constructed more than 150 MW of solar photovoltaic systems across the U.S. with more than 2,000 installations. Marathon Capital acted as exclusive financial advisor to groSolar.

Together with groSolar, Marathon Capital developed materials to present groSolar’s strategic business plan to the market. Marathon Capital then conducted a comprehensive process to explore financial and strategic investor interest in partnering with groSolar to further accelerate its growth in the distributed marketplace and was pleased to help facilitate the transaction between two strongly aligned players with a great strategic fit.

“We believe groSolar’s successful distributed generation business combined with EDF RE’s financial acumen and market presence will enable the platform to expand significantly in the years ahead,” stated David Kirkpatrick, of Marathon Capital who led the M&A process for groSolar.

“We were very pleased with Marathon Capital’s expertise in the renewable energy sector and their ability to manage a thorough and confidential process,” said groSolar CEO Jamie Resor.

groSolar will continue to operate throughout the U.S. as a unit of EDF RE.

Marathon Capital is a leading financial advisory and investment banking firm focused on providing financial advice in the areas of M&A, capital raising of debt and equity, project finance, tax equity, financial restructuring, recapitalization, bankruptcy and workout situations in the global energy and infrastructure markets.

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The Clarion Energy Content Team is made up of editors from various publications, including POWERGRID International, Power Engineering, Renewable Energy World, Hydro Review, Smart Energy International, and Power Engineering International. Contact the content lead for this publication at Jennifer.Runyon@ClarionEvents.com.

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