Latest news with #PivotEnergy
CBS News
09-05-2025
- Business
- CBS News
"Lamb-scaping" offers new way for Colorado farmers to maintain land while creating solar energy
With an increased demand for energy sources such as oil, gas and solar, one Colorado company is establishing a business model that allows farmers, land owners and the energy sector to coexist on the same land. Weld County is known for its agricultural roots, but over the years, it has also become the fourth-largest energy producer in the United States. While farms continue to cover a majority of the county, energy companies are doubling down on their investments in the Northern Colorado county. CBS Pivot Energy, with headquarters in Denver, has committed to a business model that it believes is beneficial for rural Coloradans. Pivot's team invited CBS News Colorado to one of their newest solar gardens located in the Town of Lasalle to see how their approach works. "Today we are here to release about 75 sheep on site who will be our vegetation management providers doing 'lamb-scaping,'" said Angela Burke, Director of Operations at Pivot Energy. Pivot recently contracted with a farmer to lease his land for at least 20 years. Once used to grow produce and more, the 29 acres of land are now covered with nearly 12,000 solar panels. CBS Vicki Williams lives on the land with her partner, who has owned the land for many years and is nearing the phase of retirement. She said leasing the property to Pivot was just one way to assure the land could remain under her partner's ownership while also being profitable. The duo stood at their property and watched as a truck carrying 75 sheep pulled up to the solar garden. "It is kind of exciting," Williams said. The flock of sheep was brought by Tom Brown, owner of Greeley-based Brown Land and Livestock. Brown and his two young sons came ready to release the sheep into the confines of the solar garden. "I'm blessed to have (my sons) go to work with me every day," Brown said. CBS Wearing cowboy hats at times, and sporting large belt buckles and boots, the young boys helped their father keep the sheep in the trailer while he set up a ramp. The boys then cared for their goat, "Snowball," while the flock was released under the solar panels. "I just find it all fascinating," Williams said, standing and watching with a smile on her face. "It was amazing how quickly they took off and bounded off into their new home. It seemed like they really just took to it." Many of the sheep ran straight to the vegetation under the solar panels to start eating. After all, that is the whole reason they were brought to the land. CBS By having the flock living on the solar garden, Pivot Energy has eliminated its need to hire a company to complete mowing operations. Burke said Pivot will have 98% of its solar gardens maintained by flocks or other animals, saving the company money while also providing a natural resource to feed to local farmers. "I am forever grateful to have opportunities like this," Burke said. "We are seeing a savings of about 10-to-15% each site to do sheep grazing rather than mowing. This is really a business imperative decision for us." "It is obviously cheaper for us too," Brown said as he watched over the flock with his dog. "Instead of bringing feed to the farm, we bring the sheep to the feed." An extra perk for Brown and his company comes with the land being located so close to his home in Greeley. "Up until this year, we have been running sheep up in Wyoming. Recently, we pivoted back to here for Pivot Energy," Brown said. Brown said Pivot went out of their way to make sure the solar panels were installed at a height that allows his flock to better maintain and graze the land. "This is ideal. They put the panels higher on this site to be able to graze underneath them, so it is more sheep friendly," Brown said. "Also, the vegetation here is perfect for the sheep." CBS This specific solar garden is brand new and has not been turned on yet. Once fully prepared, the solar garden will start producing enough energy to power more than 600 homes per year. Pivot Energy tends to sell its generated power to Xcel Energy, which is then used on the grid. At times, electric fencing is utilized on the property to ensure the vegetation impacted by recent construction can grow properly, guiding the sheep to graze other portions of the 29-acre property that are better filled. Depending on how much moisture is received throughout the summer, the flock may need to grow to more than 300 head to ensure the vegetation remains around one foot high. In the end, everyone involved gets to benefit from the solar garden. The landowner gets to make money off the lease of his land. The local flock owner gets to graze his sheep on nearby land. And, Pivot Energy is able to grow the company's capabilities while reducing the cost of maintaining the land. "It is kind of a win-win for everybody, I think," Williams said.
Associated Press
07-05-2025
- Business
- Associated Press
Pivot Energy Secures $200 Million Tax Credit Purchase Commitment for 144 MWdc U.S. Community Solar Portfolio
40-project portfolio, one of largest community solar portfolios in U.S., to deliver renewable energy access and local economic benefits across 8 states DENVER, May 7, 2025 /PRNewswire/ -- Pivot Energy, a leading national renewable energy provider and independent power producer (IPP), has secured a $200 million tax credit purchase commitment to support its 40-project (144 MWdc) community solar portfolio across eight states. This follows recent financing commitments of more than $450 million from HASI, First Citizens Bank, and ATLAS SP Partners. The tax credit commitment was facilitated through Acadia's Climate and Communities Investment Coalition (CCIC). The Coalition is focused on delivering tangible community benefits from corporate energy investments. Upon completion, the 40 projects are expected to fund millions of dollars in incremental community benefit investments, which will be administered by the Sustain Our Future Foundation (SOFF). The Pivot portfolio will bring affordable electricity to thousands of residential and commercial subscribers in communities across Colorado, Delaware, Hawaii, Illinois, Maryland, Minnesota, New York, and Virginia. Beyond lowering energy costs, the portfolio will create new jobs, generate tax revenues, and fund high-impact community programs. The community programs aim to develop infrastructure for community resilience, expand workforce training programs, enhance educational opportunities, increase energy bill savings of low-income subscribers, and provide support to community-based organizations. 'This tax credit purchase agreement reinforces that the energy transition can be both scalable and community-focused,' said Tom Hunt, CEO of Pivot Energy. 'We are thrilled to grow our partnership with Acadia and bring more solar energy to U.S. communities.' Following Acadia's coordination of the transaction, Tim Short, Managing Partner of Acadia, said, 'We are proud to have supported Pivot Energy in advancing one of the largest community solar portfolios in the United States.' Brian O'Callaghan, Vice President at Acadia continued, 'By facilitating this commitment through the CCIC, we're helping direct corporate capital to projects that deliver tangible benefits to local communities—like job creation, economic growth, and access to renewable energy.' 'This commitment demonstrates how renewable energy investments can be structured to drive tangible benefits for local communities,' said Yinka Bode-George, CEO of SOFF. 'By administering these community benefit funds, Sustain Our Future Foundation will help advance workforce development and education, and support community-serving organizations.' The first community solar projects in this portfolio are expected to begin commercial operations in Q3 2025. About Pivot Energy Pivot Energy is a renewable energy provider and independent power producer that develops, finances, builds, owns, and manages solar and energy storage projects. Pivot leverages its renewable expertise to provide a range of unique offerings that accelerate the clean energy transition by helping companies and communities attain impactful decarbonization. Pivot is a US-based Certified B-Corporation that proudly follows a corporate strategy aimed at providing a positive impact on society as measured by Environmental stewardship, Social leadership, and responsible Governance factors. Pivot Energy is an ECP portfolio company. Learn more at . About Acadia Infrastructure Capital Acadia Infrastructure Capital invests in energy transition infrastructure and real assets. We provide tailored capital solutions to mid-market opportunities, seeking attractive risk-adjusted returns with downside protection for our investors. Leveraging deep market expertise and long-term industrial partnerships, we aim to be agile in an ever-evolving energy market. We are a team of industry veterans, committed to shaping a sustainable future through strategic investments. Learn more at . About Sustain Our Future Foundation Sustain our Future Foundation is a national not-for-profit organization that collaborates with corporate sustainability teams to de-risk and deepen the impact of sustainable infrastructure projects by ensuring that local communities' priorities are part of the planning, siting, and development phases of the projects. Our goal is to raise the standard of sustainable development to promote economic development, community partnership, local self-determination, and environmental health for all communities. This press release is for informational purposes only and does not constitute, nor should it be construed as, legal, tax, regulatory, financial, accounting, or investment advice. It should not be relied upon for making any business, financial, or investment decisions. Furthermore, this release does not constitute an offer, solicitation, or recommendation to buy or sell any commodity, security, or financial instrument. Recipients are encouraged to consult with their own professional advisors before making any decisions based on the information provided herein. View original content: SOURCE Pivot Energy
CBS News
15-03-2025
- Business
- CBS News
Congressman Gabe Evans tours Northern Colorado energy facilities to share information with Congress
Rep. Gabe Evans, the Republican serving the 8th Congressional District of Colorado, spent his day Thursday touring energy production facilities across Weld County. The Northern Colorado county is the fourth largest producer of energy in the United States. Evans is a member of the House Committee on Energy and Commerce, a committee that doesn't commonly feature freshman lawmakers. However, Evans was selected and serves in the subcommittees for energy, environment, commerce, manufacturing and trade. Given his district spans from just north of Denver all the way north into Greeley, some may argue the 8th District is the perfect position for someone to be on such a committee. "Oil and gas, wind, solar, geothermal ... those are all home right here in Weld County," Evans said. On Thursday afternoon Evans' team invited CBS News Colorado's Dillon Thomas on his tour of Northern Colorado energy production facilities. "I represent a huge portion of Weld County, which is an all-of-the-above leader in energy," Evans said. Evans started his tour at Bayswater Hugenberg Oil and Gas Site, an oil and gas facility on the edge of Greeley. There, he was not only shown how the facility operates but was also given the opportunity to ask employees about their work and the resources needed to complete it. Weld County is one of the fastest growing regions in Colorado, as Northern Colorado's population is expected to double in the next 20 years. "We know the data. In the next 10 years this part of Weld County is going to need three times as much energy on the grid as there is today," Evans said. The Trump administration campaigned on creating more oil and drilling opportunities and has moved to make good on that promise since January. Evans said he wanted to tour Weld County's energy resources as a way to learn from one of the nation's greatest providers and then take that information to Washington D.C. "So we can make sure we are creating good policy in Congress to have an above all safe and affordable secure energy supply," Evans said. "To bring down costs for the consumer and bring jobs back to the United States. That is what it is all about." Evans then traveled to LaSalle to tour a community solar project owned by Pivot Energy. "Our economy runs on electricity, and there is so much demand for it right now," said Tom Hunt, CEO of Pivot Energy. In a county known for oil and gas production, Hunt said he wanted to showcase how modern solar technologies can be beneficial for more than just the provider. At many of the solar farms owned by Pivot Energy the original landowners still maintain ownership and lease their property out. Then, in some situations, local farmers and agriculture workers are able to work the land beneath the solar panels. "We are putting a lot of property taxes into Weld County. We are providing reliable energy to the grid," Hunt said. "It provides the best of all those worlds when we build those projects here." "This is really the first big solar tour I've done," Evans said. "So, really (I had) just a lot of logistical questions about how it works, where the materials come from, how the electricity gets to the grid and where in the grid it goes." Evans finished his tour by visiting a wind turbine facility, where he learned about how Colorado companies and workers are helping lead the way in new wind energy technologies. "The more knowledge, specifically knowledge from boots on the ground, the more of that knowledge I can get helps make better policies and better policy decisions in Congress," Evans said. "Because, it is taking into account the actual needs of operators."
