Meridian Energy USA
California-based developer of utility-scale solar farms and other renewable energy projects.
| Date | Investors | Amount | Round |
|---|---|---|---|
$690k | Series A | ||
| Total Funding | 000k | ||
Meridian Energy USA, Inc. operates as a developer of utility-scale, environmentally-clean solar power plants. The company was originally founded as Cleantech America in 2007 and is based in Pleasanton, California. Following its acquisition by New Zealand's largest electricity generator, Meridian Energy Ltd., in August 2009, the company was rebranded to Meridian Energy USA in May 2010 to align more closely with its parent. This acquisition provided the financial backing and resources needed for large-scale project development in the United States.
The firm's core business involves generating photovoltaic peak electricity that is free of greenhouse gases for sale to utilities, municipalities, and other major customers. A significant early milestone was the completion of its first utility-scale solar farm, the 5 MW CalRENEW-1 facility in Mendota, California. The business model is centered on developing and operating these large-scale renewable energy projects, with a strategic focus on expanding its portfolio in California and other parts of the western U.S. Prior to its acquisition, the company secured $4.17 million in seed funding over four rounds from institutional investors, including Wafer Works, Clydesdale Ventures, and King Hill Capital.
The company functions as the U.S. solar development subsidiary of its New Zealand-based parent, leveraging Meridian Energy Ltd.'s expertise in renewable energy. At the time of the rebranding in 2010, Bill Overholt served as the Chief Executive Officer of Meridian Energy USA, guiding its expansion and operational efforts in the American market. The strategic intent behind the U.S. operations is to build expertise in utility-scale solar generation, keeping the parent company at the forefront of renewable energy development.
Keywords: utility-scale solar, solar power development, renewable energy projects, photovoltaic plants, solar farm developer, clean energy, electricity generator, solar project financing, CalRENEW-1, Cleantech America, US solar market, energy project portfolio, utility power purchase, municipal energy supplier, large-scale solar
