The energy landscape in the United States is rapidly evolving to a renewable, distributed future. Guzman Energy is playing a leading role in bringing this future forward in the bilateral markets of the West, while at the same time significantly lowering prices, particularly in rural communities.
Guzman Energy chairman and CEO Leo Guzman said: “We are very pleased to have Vision Ridge Partners and ZOMA Capital join us as partners. Not only do their respective investments in the company represent a tremendous validation of our leadership position to bring about change, but their strategic insights, deep relationships and significant resources will play an important role in Guzman Energy reaching its full potential.”
In aggregate, both new investors will hold a minority interest in Guzman Energy, and representatives from Vision Ridge and ZOMA will join the Guzman Energy Board of Directors.
Guzman Energy president Chris Riley said: “We offer communities—empowered by their desire for a more sustainable and competitive energy future—a path to achieve their goals. We accomplish this via a focus on renewables, mixed when necessary with traditional fuel types, smart-grid tech, increased efficiencies, battery storage, and more, thereby leading the efforts to transition our energy economy into the renewable age. We want to pave the way toward a better future for generations to come—both on and off the energy grid.”
Last February, Guzman Energy shook up the energy status quo by announcing a partnership with Kit Carson Electric Cooperative (KCEC) to enable the northern New Mexico counties of Taos, Colfax and Rio Arriba to achieve summer solar energy independence by 2022. In addition to generating renewable energy to cover 100% of the summer daytime load—saving 30,000 co-op members $50m to $70m in the next 10 years—Guzman Energy seeks to foster competitiveness and spur greater opportunity in the communities they serve.
ZOMA Capital chief investment officer Melissa Cheong said: “ZOMA Capital invests in a wide range of market-based sustainable solutions addressing environmental and social challenges, including energy, water and community development. Guzman Energy’s efforts to realign the energy economy—in unique bilateral markets in New Mexico, Colorado and beyond—aligns with our dedication to investing in a more efficient, responsive and modernized electric grid.”
Vision Ridge Partners managing partner and founder Reuben Munger said: “At Vision Ridge, we focus on opportunities that are good for the environment that we also believe can deliver strong financial returns. And with Guzman Energy having been very vocal in sharing its long-term mission of making communities thrive and be more competitive, we see this as an excellent fit.”
Source: Company Press Release
