Anza, an innovative solar and storage procurement marketplace launched within Borrego Solar, that we profiled in the 2023 Q1 issue of Solar Builder, has completed its separation from Borrego, a leading O&M provider.
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. Anza has handled 1.9 GW of module sales to date and is expected to grow 100 percent year-over-year.
“As a leading investor in renewables, we frequently see the challenges developers, IPPs, and EPCs face in procuring major materials for their projects,” said Andrew Gilbert, partner at ECP. “We believe Anza’s technology, experience, and strategy can materially improve procurement outcomes for both distributed generation and utility-scale buyers.”
Formally launched in September 2022, Anza uses a proprietary engine of technical and financial data from a large pool of pre-vetted top-tier equipment suppliers to empower solar buyers — performing days and weeks of engineering work in seconds. This engine was built to leverage the Anza team’s decades of experience developing, constructing, and maintaining renewable projects.
Developers, independent power producers, utilities, and EPCs can use Anza 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 utilize 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.
“Anza offers buyers a new way, a better way, to procure equipment,” said Mike Hall, Chief Executive Officer at Anza. “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. 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.
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