Cherry Street Energy

Overview
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Current-gen renewables?
Product stageSegments
Early
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Solar project developers and operators
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Cherry Street Energy is a leading renewable energy company based in Atlanta, Georgia. The company specializes in designing, engineering, constructing, operating, and maintaining solar power systems for large-scale customers, including businesses, municipalities, hospitals, and schools. Cherry Street Energy offers a unique business model that eliminates the need for upfront costs, incremental fees, and ongoing maintenance expenses for its customers.

The company's innovative approach involves installing solar arrays on their customers' properties and selling the generated electricity directly to them at competitive rates. This model provides an accessible path to renewable energy without the complexities typically associated with solar power adoption. Cherry Street Energy currently owns and operates over 100 solar power systems across the Southeast, serving customers such as Porsche Cars North America, Gulfstream Aerospace, the City of Atlanta, Fulton County, and Emory University.

In May 2024, Cherry Street Energy acquired two operating solar power plants in Stephens County and Chattooga County, Georgia, from United Renewable Energy. This strategic move expanded the company's renewable energy portfolio and reinforced its commitment to supporting the growth of solar power in the state. Additionally, in April 2024, Cherry Street Energy acquired an operating solar asset in Dawson, Georgia, from a private seller, further enhancing its capacity to serve the region with reliable and sustainable energy solutions.

In October 2022, Cherry Street Energy received a transformative capital investment from EBSCO Industries, strengthening its ability to support companies and communities across the US in achieving their carbon reduction and sustainability goals. This investment positions Cherry Street Energy to accelerate the adoption of renewable energy and play a crucial role in the transition toward a low-carbon future.


Sources

Disclaimer: This company profile has been generated using data obtained through automated web searches and advanced generative AI technology. While we strive to ensure the accuracy and reliability of our sources, auto-generated information could be outdated or inaccurate and should be verified independently.
HQ location:
Atlanta GA USA
Founded year:
2015
Employees:
11-50
IPO status:
Private
Total funding:
USD 42.7 mn
Last Funding:
USD 40.0 mn (Corporate Round; Oct 2022)
Last valuation:
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