Solar EPC and O&M provider Borrego announced it will shift from installing solar + storage projects in the commercial market to instead focusing on the utility-scale sector. The company plans for each of its business units to reach the gigawatt-scale by 2024.
“Our refreshed brand reflects an evolution in our company,” says Mike Hall, CEO of Borrego. “We’ve been around for 40 years as Borrego Solar and have led the commercial market for more than two decades. We’re starting this new year sharing something that has been happening behind the scenes for a while: we are centering our expansion plans on the utility-scale segment, while continuing to lead in the large commercial and community solar markets.”
Borrego implemented most of the organizational changes in 2020. The three business units—development, EPC and O&M—have already begun operating independently and competing for business in the marketplace, drawing on each other’s strengths when needed. The development and EPC businesses also set up utility-scale divisions last year.
As part of this strategic shift, each of the company’s businesses has a goal of operating at gigawatt scale by 2024. The O&M group is the first business to achieve this milestone; as of November 2020, the team reached 1 GW of solar and storage projects under management—the majority of which Borrego EPC did not build.
In order to accommodate the industry trend to larger-scale projects, Borrego also transformed its strategic sales approach in 2020. The company has shifted its emphasis from single-transaction, smaller, behind-the-meter projects to supporting long-term partners. This pool of systems owners, independent power producers (IPPs) and utilities can be served in multiple ways across multiple businesses to power their growth over time.
“Our customers remain front and center, and we continue to build long-term relationships based on trust and transparency,” said Hall. “As always, Borrego remains focused on powering our customer’s growth.”
The company’s development and EPC businesses have already booked hundreds of megawatts of large-scale projects, many of which are in the late-pipeline or active construction stages. In order to achieve its growth goals, Borrego will be actively looking for new talent, especially those with utility-scale skill sets. The company hopes to increase its workforce by 25% in 2021.
News item from Borrego