The FINANCIAL – Panasonic Enterprise Solutions Company announced that it has made a strategic investment in alternative energy firm Coronal Group LLC. Since 2013, Panasonic and Coronal have worked together to bring comprehensive, end-to-end solutions for solar photovoltaic projects to the commercial, industrial, municipal and small utility sectors. The two companies have developed, built and now operate or are currently constructing a portfolio of solar systems in North America—totaling nearly 100 megawatts (MW) of renewable energy, and are assembling a significant project pipeline, according to Panasonic Corporation of North America.
“Panasonic is one of North America’s largest developers in the solar sector. Our investment in Coronal Group will accelerate our fast growing platform with Coronal as an integrated solar energy solution provider for customers with a shared understanding of the value of solar energy production and sustainability, both for the environment and the bottom line,” said Jamie Evans, the company’s Managing Director of Eco Solutions, and who will serve on the board of Coronal. “Given the promise of the solar market, together the Panasonic-Coronal team is aggressively looking for additional investment opportunities and strategic partners,” he said.
“Working with Panasonic, we believe we offer a unique platform to create the optimal, end-to-end solution for commercial, industrial, municipal and small utility solar projects,” said Jonathan Jaffrey, CEO and Managing Director of Coronal Group. “This investment strengthens the exclusive relationship between Panasonic and Coronal and provides additional growth capital to allow us to continue to fill critical gaps in the solar market,” he added.
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