Panasonic has increased its stake in renewables partner Coronal Group.
The move marks a new phase in their partnership following on four years of collaboration.
Concurrently, Coronal announced that it changed its name from Coronal Group LLC to Coronal Energy. Together, the two companies now go to market with an integrated team under the banner of Coronal Energy, powered by Panasonic.
Panasonic Enterprise Solutions managing director of Energy Solutions Group Jamie Evans said: “At a time when the solar industry is maturing and consolidating, smaller players are facing an uncertain future, and some larger players have declared bankruptcy, Panasonic is making a statement that it’s committed to the future of solar energy in North America for the long term.
“In close alignment with Coronal, we believe the future of solar in this country is very bright, and we’re excited to strengthen our leading role in making that happen.”
Coronal Energy chairman and CEO Jonathan Jaffrey said: “In today’s energy landscape, not all solar is created equal. We firmly believe Coronal Energy, powered by Panasonic, offers a smarter way to pursue solar, and for our customers that translates into smarter business.
“Coronal Energy, powered by Panasonic, completes our platform and the integration of our services creating a unified vision, commitment, and cross-organizational team that leverages the best of Panasonic and Coronal for the benefit of our customers.
"As a unified entity, our customers can rely on Coronal Energy as a trusted source for all their renewable energy project needs.”
Coronal Energy, powered by Panasonic, focuses on renewable energy solutions—including solar photovoltaic and battery energy storage—for diverse enterprise customers across North America, including utilities, corporations, the public sector, educational institutions, and other organizations.
It combines world-class capabilities across the project lifecycle to deliver customer-focused solutions with unparalleled reliability, performance, and value while simplifying projects and mitigating delivery risk.
Coronal Energy, powered by Panasonic, unites Panasonic’s financial strength and award-winning history of solar innovation and sustainability leadership with the project development, finance, engineering, construction, and asset management experience of Coronal Energy.
Its portfolio includes projects in 40 U.S. states totaling 2.3 GW, with more than 3.4 GW of additional greenfield and brownfield projects under construction/contract, in development or in the pipeline. Coronal Energy, powered by Panasonic, maintains offices across North America in California, Colorado, New Jersey, Virginia, and Toronto.