Madison Energy Infrastructure Acquires Commercial and K-12 Solar Portfolio from Longtime Partner Sun Tribe

The move builds on and expands Madison's municipal and K-12 clean energy portfolio, as Sun Tribe sharpens its focus on the utility- and community-scale solar markets.

Charlottesville and Richmond, Va. — 16 April 2024 — Clean energy developers Madison Energy Infrastructure (Madison) and Sun Tribe today announced that Sun Tribe has divested its commercial assets, pipeline, and development team to long-time partner Madison. Through this acquisition, Madison — a leading clean infrastructure platform with over half a gigawatt of assets across more than 25 states — builds on its mission to deliver operational value, certainty, and sustainability to ambitious organizations and communities.

Sun Tribe Solar — the commercial business unit of Charlottesville-based Sun Tribe — pioneered and scaled the K-12 solar market in Virginia over the past seven years, helping 94 schools in 21 counties deploy clean, affordable power. Madison is a strategically aligned partner of Sun Tribe, having transacted with all five of Sun Tribe’s business units and having served as the preferred asset owner partner for its commercial business for several years.

The recent asset purchase agreement includes Sun Tribe’s current commercial projects, future commercial pipeline, and the onboarding of Sun Tribe’s commercial development team. Rich Allevi, who most recently served as president of Sun Tribe Solar, will continue to lead the commercial development team now under Madison, which will remain in Charlottesville.

“This acquisition is a strong next step in Madison’s current trajectory of growth and increased impact,” said Ben Hunter, CCO at Madison. “We value community and collaboration in a way that’s naturally aligned with the values of the Sun Tribe team, and we know that this evolution of our longtime partnership can achieve great things in the U.S. solar schools space.”

This transaction results in a sharpened focus for Sun Tribe on the utility- and community-scale solar markets in the Appalachia, Mid-Atlantic, and Southeast regions via its businesses spanning key stages of the value chain: Sun Tribe Development, led by Danny Van Clief; Sun Tribe EPC, led by Sean Rooney; and Sun Tribe Asset Management, led by Ryan Tully.

“We see this exciting integration as a success on multiple fronts. The Sun Tribe Solar team can now apply their talents and experience in new markets through Madison’s nationwide footprint,” said Devin Welch, chairman at Sun Tribe. “Meanwhile, Sun Tribe will continue to strengthen its focus on our fast-growing utility- and community-scale businesses. As we do, we look forward to a continued partnership with Madison.”

The mutually beneficial transaction allows Madison to increase the reach and impact of Sun Tribe Solar’s efforts to solarize schools, expanding the model across its 25-statefootprint. Working under Madison, the commercial development team can now integrate origination and project development with construction and operation of projects without the need for a third-party asset owner. The student-focused, curriculum-enriching work of the Solar Empowered Schools program will also carry on under Madison’s ownership.

“I’m proud that, over the past seven years, our team’s efforts have saved school districts millions of dollars and allowed tens of thousands of students the opportunity for hands-on learning that opens up future career paths,” said Allevi. “The fact that we can now bring this work to new corners of the country under Madison’s roof is incredibly exciting. We’re ready to see just how much positive impact we can have.”

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About Madison Energy Infrastructure

Madison Energy Infrastructure is a leading clean energy partner committed to delivering sustainable results with certainty, speed, and trust. Our robust portfolio—comprised of over half a gigawatt of clean energy infrastructure assets across more than 25 states—is bolstered by the strength of our globally renowned investors and capital partners. We offer a comprehensive suite of services from project development and engineering to construction, financing, and long-term asset management. What sets us apart is our team's commitment to addressing complex challenges and making the transition to clean energy simple, efficient, and profitable. With a proven track record of successfully executing hundreds of projects, we are unwaveringly focused on exceeding expectations and achieving meaningful results for our partners and customers.

About Sun Tribe

‍Founded in 2016 and headquartered in Charlottesville, Virginia, Sun Tribe has grown into one of the largest clean energy companies in the Mid-Atlantic region. Sun Tribe delivers legacy-grade projects that translate into long-term value for partners. The Sun Tribe approach is focused on diligent upfront de-risking, best-in-class development, and turnkey engineering, procurement, and construction services — all while forging ongoing relationships with our partners built on a foundation of trust. With a team of more than 80 renewable energy experts, Sun Tribe has completed more than 100 clean energy projects to date. The team has previously developed and built solar facilities in 20 states for leading partners including Dominion Energy, Duke Energy, Exelon, Pacific Power, PSEG, the United States Air Force, and the United States Navy. To learn more visit www.suntribesolar.com.

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Media Contacts

+1 (315) 621-4820

contact@madisonei.com

Nikki Arnone, Director, Inflection Point Agency for Sun Tribe

nikki@inflectionpointagency.com

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