Retail electricity seller Viridian Energy has found a new partner to help build its solar energy business. The renewable energy company is rolling out a co-branded offering with Sungevity Inc., a solar energy provider with operations in the U.S. and Europe.
The partnership combines Sungevity’s technology platform with the marketing power of Viridian’s independent salesforce, which generated revenue of $328 million in 2014. Through its technology platform, Sungevity can remotely assess a site and deliver a quote to a prospective customer. The California-based company also provides online tools that enable customers to monitor their system’s performance.
“In Sungevity, we’ve found the right strategic partner to take our solar business to the next level,” Viridian Energy Founder and CEO Michael Fallquist said in a statement. “Sungevity’s innovative technology platform, exceptional customer experience, and extensive installation network promise to further differentiate our solar offering, expand our total volume of solar capacity sold, and deliver more favorable economics for our stakeholders.”
Connecticut-based Viridian, part of Crius Energy, currently has about 250,000 customers across 14 states and Washington, D.C. The company rolled out its first solar offering in late 2013 through a partnership with SolarCity. In markets where Sungevity is not yet active, Viridian will continue to market solar energy through its reseller agreement with SolarCity.
After launching the new offering in the first quarter of 2016, Crius and Sungevity are looking to expand aggressively across the deregulated energy space. Viridian’s partnership with Sungevity, unlike the deal with SolarCity, will ensure co-branding for the duration of the solar contract, which runs about 20 years.
