OAKLAND, Calif.--(BUSINESS WIRE)--Anza, an innovative technology-enabled procurement marketplace that connects solar and energy storage equipment suppliers with buyers to simplify, accelerate, and optimize the renewable development procurement process, today announced that it 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.
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 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. These factors have led customers to trust Anza, with 1.9 GW of module sales to date and expected growth of 100 percent year-over-year.
"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. To date, Anza’s proprietary technology has enabled solar project developers and owners like Ormat, Standard Solar, and Renewable Properties to achieve excellent and efficient procurement results.
“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. We look forward to continuing Anza’s considerable commercial momentum and supporting the talented Anza management team as they work to transform the solar and storage equipment procurement market.”
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).
To learn more about the Anza platform, please visit www.anzarenewables.com. Submit your next project in the Anza app at app.anzarenewables.com to see Anza’s transformative power for yourself.
About Anza
Anza is an innovative procurement platform that enables solar and energy storage project developers, owners, utilities and EPCs to earn more project profit. It quickly analyzes and ranks module or energy storage equipment options by most financial value, according to specific project inputs. In addition to a robust analytics engine, Anza’s expert team guides customers through their procurement selection to minimize risk and maximize value by providing access to excellent pricing, pre-negotiated terms and executed master supply contracts in place to lock in orders rapidly. The dual-sided platform enables vendors to actively participate, gaining access to real-time market data, a growing sales channel, and the ability to customize their offerings easily.
Anza was born from internal tools at Borrego that maximized the financial value of its own projects. In 2021, Anza launched as a standalone procurement application for broader industry use and to further the company’s mission of accelerating the adoption of renewable energy. For more information, visit anzarenewables.com.
About ECP
Energy Capital Partners (ECP), founded in 2005, is a leading investor across energy transition, electrification and decarbonization infrastructure assets, including power generation, renewables and storage solutions, environmental infrastructure and efficiency & reliability assets facilitating the energy transition. The ECP team, comprised of 68 people with 550 years of collective industry experience, deep expertise and extensive relationships, has consummated more than 60 transactions over the last 10 years, representing more than $45 billion of enterprise value. For more information, visit www.ecpgp.com.
About Angeleno Group
Founded in 2001, Angeleno Group is a pioneer in providing growth capital for next generation clean energy and climate solutions companies. Since its founding, Angeleno Group has become one of the country’s largest dedicated clean energy and sustainability investment firms, making growth investments on a global basis. The firm’s core strategy is to invest in high growth, well managed, innovative businesses with proven technologies and established customer traction. Angeleno Group invests in a range of deal types, with a strategy that is sector-focused, stage-agnostic and research-driven. Angeleno Group is headquartered in Los Angeles, California. For more information, visit www.angelenogroup.com.
