Nexus Renewables, a Canadian developer, owner, and operator of renewable energy, has received a USD 5 million USD asset-backed credit facility from Scale Microgrid Solutions, a vertically integrated distributed energy platform and portfolio company of Warburg Pincus. This is the first funding the company has received. 

Nexus will be using these funds to advance over 100 MW of late-stage distribution-scale solar and energy storage projects to notice to proceed. It is estimated that these projects can meet the needs of over 150,000 homes and prevent 120,000 tonnes of CO2 emissions from fossil fuels.

Founded in 2020, Nexus is a pure-play renewable development company that is currently developing over 1GW of solar and energy storage projects.