Anza solar marketplace completes separation from Borrego
Anza, a marketplace that connects solar and energy storage equipment suppliers with buyers to simplify, accelerate and optimize the renewable development procurement process, announced that it has completed its separation from O&M provider Borrego. An Energy Capital Partners-led consortium of investors that included ECP’s–Energy Transition Opportunities Fund, Angeleno Group and other investors provided funding to the company. Terms of the transaction were not disclosed.
Formally launched in September 2022, Anza operates a technology-enabled procurement marketplace powered by a proprietary engine of technical and financial data from a large pool of pre-vetted top-tier equipment suppliers. This engine was built to leverage the Anza team’s decades of experience developing, constructing and maintaining renewable projects. Anza’s platform simplifies solar module and energy storage procurement, enabling developers, independent power producers, utilities and EPCs to evaluate equipment based on total lifetime value rather than only upfront dollars-per-watt cost to make informed, value-based decisions that increase project margins. Buyers can use the platform to efficiently transact on this information and minimize lead time by leveraging the company’s relationships with top suppliers and attractive, pre-negotiated contracts.
“The status quo of solar and storage procurement is incredibly inefficient. Buyers and sellers waste tremendous time finding the right match and chasing down unstructured data. Buyers are forced to largely shop based on price, as they don’t have the tools to assess total value and risk easily,” said Mike Hall, CEO at Anza. “We believe Anza can increase the financial return and reduce the lead time for any solar or storage project by revolutionizing the major material procurement process — helping to accelerate the adoption of renewable energy.”
With funding from ECP and other investors, Anza will continue to expand its platform offerings to include more features, further reducing the friction in today’s solar and storage procurement processes.
Anza will continue to be led by former members of Borrego’s leadership team, including Mike Hall (CEO), Aaron Hall (President), Malini Balakrishnan (CTO) and John duPont (EVP of Business Development & Strategy).
News item from Anza