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7X Energy

Company Summary

Description

7X Energy is a Texas-based utility-scale solar developer. The company is 100% employee-owned and consists of a diverse team of seasoned industry veterans focused on the development and sale of renewable energy to commercial and wholesale customers. In 2016, 7X sold over 3 gigawatts of solar projects across the U.S. to fund its early operations. Using its custom proprietary mapping and transmission modeling software, 7X continues to build a portfolio of projects and products across the U.S. 7X Energy’s development, technical, and software expertise accelerates the project site selection and evaluation process, while lowering energy costs and minimizing risk for its customers and investors.

Website

https://7x.energy/

Recent news

  • 6/1/2021 - BP Acquiring 9 GW Solar... (subscriber access)
  • 2/8/2019 - 7X Energy Sells 100 MW... (subscriber access)
  • 12/10/2018 - 7X Energy Sells... (subscriber access)
  • 5/23/2018 - 7X Energy Inks PPA for... (subscriber access)

Company Transactions

Date: 7/1/2021
Type: Acquisition

BUYERS:
  • BP PLC
    • SELLERS:
  • 7X Energy
    • DETAILS:

    COST: 220 $MM

    VOLUMES: 9000 MW

    NOTES:
    BP is acquiring a 9 GW portfolio of solar development projects from independent developer 7X Energy. They will pay 7X with $220 million in cash and 1 GW of "safe harbour" equipment, with closing in 30 days. This deal boosts BP's pipeline from 14 GW to 23 GW and they will be deployed via BP's 50/50 joint venture Lightsource bp.
    REGIONS:
  • Lower 48

    • Date: 2/8/2019
    Type: Acquisition

    BUYERS:
  • Duke Energy Renewables
    • SELLERS:
  • 7X Energy
    • PROJECTS:
  • Lapetus Energy Project
    • DETAILS:

    VOLUMES: 100 MW

    NOTES:
    7X Energy reported the sale of the 100 MW Lapetus Solar Energy Project in Andrews County, Texas to Duke Energy Renewables