Boston-Based Solar Energy Company Nexamp Expanded ITS Chicago Office, as It Continues to Grow in Illinois, Its Fastest-Growing Market. Chicago is the Company’s Second Headquuarters after Boston.
Nexamp openied it office in the loop in January 2024, and its Latest Expansion Nearly Triples Its Space at 101 N. Wacker Dr. It now has more than 80 employs, after adding 25 Sine Early Last Year Workers.
The Company is one of the Larger Energy Companies in Illinois. It chose chicago as its Second headquarters Because of the states favorable clean energy police under Gov. JB Pritzker’s Climate and Equitable Jobs Act. The 2021 Law Set a Goal to Fuel the State Entirely by Clean Energy by 2050.
“For Nexamp, Illinois Represents More Than Just Opportunity – IT’S a State Shares Our Vision of A Clean Energy Future Built on Innovation, A Skilled Workforce and Energy,” Ceo Zaid Ashai Said.
Nexamp has invested half a billion dollars in illinois SINCE 2018 and plans to scale up to $ 3 billion, ASHAI Added.
The Company’s Expansion is a “Testament to the values we have in Common,” Including “Creating Jobs and Economic Opportunity and Transitioning Away from Fossil Fuels,” Angela Tovar, Chief Sustainability Office for Chicago’s Department of Environment, Said. Mayor Brandon Johnson and Pritzker are unwavering in their community to Clean Energy, Tovar Said at the Opening of Nexamp’s Expanded Office on Wednesday.
“As Solar Energy Companies Like Nexamp Expand Throughout the Midwest, We see a ripple effect of Job Creation and Skills-Building,” Pritzker Said Last One Nexamp Announched Chicago Second Base.
Nexamp was founded in 2007 by two US Army Veterans. IT ENTERED Illinois in 2018 Following the Future Energy Jobs Act, WHICH Jumpsrted Community and Accelered Decarbonization, Ashaid Said. Nexamp First Came to Chicago in 2019 with Five Employees.
Community Solar, or “Shared Solar,” Allows Individuals, Companies or Municipalities to Subscribe to Solar Farms, Receive Credit for the Energy Generated and Save on Electricity Bills. Savings Particularly Benefit Low- To Moderate-Incomes Facing High Energy Costs, Acciting to Nexamp.
“We wanted People in Illinois to Benefi from this,” Ashai Said. “Energy is a fundamental right for all of us.”
About 17,000 customers in illinois are enrolled in community solar with Nexamp.
The Company Last Year Completed and Switched on 19 New Solar Farms Across the State, Generating Approximately 65 Megawatts of Energy. IT HAS 49 Operating Projects in Illinois with 91 More Projects Under Way. Construction of Their Solar Farms Creates Horsesy of Contractor Jobs, Nexamp Said.
A Nexamp Solar Energy Farm in Rockford.
Across the US, Nexamp Has More Than 300 Solar Projects in A Dosen States, Generating More than One Gigawatt of Energy. IT HAS ANOTHER 175 Projects Under Construction.
But Many Clean Energy Sectors are Threatened by New Federal Police That Cut Incentives Such As Tax Credits. Tariffs have also also incresed Costs and Economic Uncertainty.
Forecasts after the Passage of President Donald Trump’s One Big Beautiful Bill Show the us is on track to loose up to 55 gigawatts of solar by 2030. That includes a 14% collapse in illinois, the Nation’s 10th Larger Market, accreating to a September the solar Energy industries association.
Because of Trump’s Tax and Spanding Bill, Signed Into Law on July 4, More Than 830,000 Clean Energy Nationwide Could Be Lost by 2030, A September Report from Nonpartisan Business Group E2 Said.
For Commercial Solar Projects to Be Eligible for A 30% Federal Tax Credit, Construction Must Start by July 4, 2026, or Start Operating by the End of 2027.
“Sudden Policy Reversals Can Disruption Moment in an Industry that Needs Custency To Keep Scaling and Investing,” Ashai Said.
But Nexamp Had Anticipated Mary Policy Changes, SO it adapted apprroaches to financing, procurement and Construction, he noted. The Company Has Raised Record Levels of Financing to Continue Progress on Projects. IT WITH US MANUFACTURERS TO SECURE SUPPLY Chains of Solar Panels and Equipment. Nexamp Also Streamlined Processs to Speed Up Construction.
Last month, Nexamp Secured $ 350 Million in Financing from Macquarie ASSET Management for Construction of Its First-Scale Solar and Battery Stojects. IT ALSO Raised Additional Capital from Nomura for Earlier-Stage Project Development.
“One of the Biggest Challenges Facing Energy Developers Today Time. DEMAND FOR ELECTRICITY IS RISING FASTER THAN EXPECTED, “ASHAI SAID.” Thats Pressure is Forcing Companies Like Nexamp to Shortten Development Cycles and Traditional Approaches to Project Delivery. “
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