Marathon Capital is pleased to announce that IGS Solar, a turnkey commercial and residential solar provider based in Ohio and an affiliate of IGS Energy, and ORIX USA, a division of integrated financial services group, ORIX Corporation (ORIX), have partnered to develop, acquire, own, and operate a nationwide portfolio of commercial and industrial solar energy projects.
Marathon Capital acted as the exclusive financial advisor to IGS Solar in arranging the capital commitment from ORIX. Marathon Capital's extensive experience in the commercial and industrial solar sector served to evaluate a range of capital sources and transaction structures, culminating in the partnership with ORIX USA to fund IGS Solar's growing project pipeline.
"We look forward to serving as a long-term partner with IGS Solar as we both expand our solar energy footprint across the country. Together, we are well-positioned to reach more of the commercial and industrial solar market," said Barry Gold, Managing Director and Head of ORIX Infrastructure and Renewable Energy.
According to Scott White, President and CEO of IGS Energy, "Our alignment with ORIX fits closely with our long-term approach. We share the same culture of innovation, commitment to delivering exceptional customer experiences, and making solar accessible, particularly to organizations that haven't previously been able to consider it due to the upfront costs." The partnership was made possible through advisement by Marathon Capital, "who was very effective in advising through the entire process," explained White.