Tuusso Energy
Mid-seized solar power plants.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | $2.0m | Early VC | |
| Total Funding | 000k | ||
Based in Seattle, Washington, Tuusso Energy LLC operates as a developer of utility-scale solar energy projects. Founded in 2008 by Jason Evans, Byron Crawford, Owen Hurd, and Vivek Nayak, the company concentrates on engineering mid-sized solar plants, typically around 20 megawatts, situated near existing transmission infrastructure. This strategy aims to minimize development risk and lower the levelized cost of energy for its clients, which include investor-owned utilities (IOUs), public utilities, and municipalities.
Tuusso Energy's business model is technology-agnostic, allowing for the use of any commercially-proven and bankable photovoltaic systems to best suit project needs. The company's methodology involves careful site selection, often targeting previously disturbed land to avoid impacting environmentally sensitive areas. Revenue is generated through the development and sale of these solar projects. A significant milestone was the sale of a 20-megawatt pre-operational solar portfolio in Kittitas County, Washington, to Greenbacker Renewable Energy Company in 2022. This portfolio includes the Camas, Penstemon, and Urtica projects, all of which have long-term power purchase agreements in place and contribute to Washington's clean energy goals.
The company's funding includes a Series A round in 2010, which raised $2 million led by Pivotal Investments and Akula Energy Ventures. Akula Energy Ventures, a private equity investor with extensive experience in power plant development, also engaged in a co-development partnership to fund projects. In 2019, Tuusso Energy was awarded a $1 million grant from the Washington State Department of Commerce's Clean Energy Fund for its Urtica solar project, designed to supply power to Puget Sound Energy.
Keywords: solar project development, utility-scale solar, renewable energy projects, solar plant engineering, energy infrastructure, photovoltaic systems, power purchase agreements, clean energy finance, solar farm developer, project financing, cleantech, energy development, sustainable infrastructure, solar power generation, renewable power, investor-owned utilities, commercial solar, mid-sized solar projects, Washington solar, Kittitas County solar