Coronal Group and Panasonic to financially support Blue Oak Energy

22 September 2015 (Last Updated September 22nd, 2015 18:30)

Green energy firm Coronal Group and technology company Panasonic Eco Solutions have made strategic investments in Blue Oak Energy.

Green energy firm Coronal Group and technology company Panasonic Eco Solutions have made strategic investments in Blue Oak Energy.

Further details about the investments have not been disclosed.

Blue Oak Energy operates across North America as an engineering, procurement and construction (EPC) contractor for solar power developments, chiefly focusing on commercial and utility-scale projects.

Blue Oak Energy founder and CEO Tobin Booth said: "We now have a larger platform from which to expand our services and help our customers achieve their goals."

"We are excited to have made this investment in a world-class renewable engineering firm."

The firm presently maintains a portfolio of more than 1GW of renewable projects across 600 distinct locations, in over 30 US states.

Coronal Group CEO Jonathan Jaffrey said: "This is a strategic investment by Coronal, which will provide resources to help fuel Blue Oak Energy’s growth in the engineering and EPC sectors and ensure that the company can provide its long-term, loyal customer base with the service it has come to expect."

Panasonic Eco Solutions head of US operations Jamie Evans said: "As part of one of the largest engineering-based firms, we are excited to have made this investment in a world-class renewable engineering firm.

"Panasonic is a Blue Oak Energy customer and pleased to support their growth and commitment to meeting increasing market demand."

While Marathon Capital served as the exclusive financial advisor for Coronal and Panasonic, Media Venture Partners acted as the exclusive advisor for Blue Oak Energy.