Coronal Group Buys Virginia Solar Development Firm

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Glendale solar development firm Coronal Group has acquired a majority of the assets of HelioSage Energy of Charlottesville, Va., a builder of utility-scale solar projects across the country.

Financial terms of the deal were not disclosed, and representatives of Coronal did not respond to a request for comment.

Coronal simultaneously launched a new company called Coronal Development Group with the goal of helping commercial customers install solar panels.

Together with Panasonic Eco Solutions, a division of Panasonic Corp., Coronal co-owns and operates a portfolio of solar facilities in North America whose combined output totals nearly 100 megawatts. The HelioSage acquisition will add more than 300 megawatts to Coronal’s total once all the projects are completed in 2016.

Peter Miller, a senior scientist with the Natural Resources Defense Council in San Francisco, said in a recent interview that government agencies and public utilities are increasingly looking to private solar energy firms to ease strain on their grids.

Through these public-private partnerships, a for-profit developer such as Coronal utilizes the tax credits and passes on the savings.

“The folks who come in with low-cost credible bids get contracts with utilities to produce power,” Miller said.

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