Perch Energy Announces Acquisition of Mitsui’s Solstice, Solidifying the Company as the US Leader in Community Solar
The acquisition positions the nation’s largest and most experienced pure-play community solar company for continued growth, signaling its financial strength and scalability as the preferred partner for solar project developers and asset owners
BOSTON, Feb. 18, 2026 (GLOBE NEWSWIRE) -- Perch Energy today announced the acquisition of Solstice, a leading and fast-growing service provider specializing in customer acquisition and management for community solar development, formerly owned by MyPower, a wholly-owned subsidiary of Mitsui & Co. This deal further establishes Perch as the most experienced and largest pure-play community solar acquisition and management servicing platform in the U.S. This dynamic combination strengthens Perch’s acquisition and management capabilities and its market footprint across all community solar markets. Mitsui’s Solstice adds highly skilled technology, sales and operational talent, as well as additional financial investment into Perch Energy.
Following the acquisition of Solstice’s operational and under-contract solar projects and subscribers, Perch will manage over 3GW of solar capacity across 1,000+ solar projects in 16 states, serving over 430,000 residential customer equivalents with proprietary software technology and automation. Solstice will contribute a portfolio of contracted solar projects representing 500 megawatts of capacity.
Today’s acquisition comes after Perch and Arcadia announced a new venture combining both companies’ industry-leading community solar businesses to create a new standalone company in March of 2025. It represents the second significant transaction in the past 12 months for Perch and aligns to its strategy of serving as a highly reliable and scalable community solar partner with an industry-leading platform.
Perch will remain focused on delivering utility bill savings for consumers and businesses at a time when energy savings are needed most. According to the U.S. Energy Information Administration (EIA), retail electricity prices have increased faster than the rate of inflation since 2022 and are expected to continue increasing through 2026. To-date, Perch alone has already saved an estimated $100M for customers.
“Community solar continues to evolve, mature, and thrive in providing strong recurring clean energy savings to all American consumers during a dynamic energy transition impacting the US. This transition requires the most active companies, like Perch and Solstice, to likewise transform and join forces to expand delivery of the best services to consumers, project owners and developers,” said Bruce Stewart, CEO of Perch Energy. “Perch Energy takes to heart the critical role we play in providing reliable acquisition services and is investing in a robust technology platform that will provide decades long support for our community solar project developers and sales partners. The combined strengths of Perch and Solstice’s services, capabilities and talented team are foundational to delivering savings and clean energy for residents, businesses and governments. We’re committed to driving the growth of community solar across the U.S.”
Perch and Solstice will combine their industry leading services to serve over 86 solar project owners in both mature and emerging community solar markets across the nation. Perch’s historical strength serving residential and commercial customers in states including New York, Illinois, Massachusetts, New Jersey, Minnesota, Maine, Maryland, Virginia, and Oregon will pair with Solstice’s established footprints in Illinois, New York, and New Mexico, among other states.
Stability through achieving economies of scale, long-term investors, technology and policy leadership, and delivering on service commitments are key hallmarks of the combined Perch and Solstice entity. Both companies have proven track records of delivering a strong return on investment for their solar developer partners and quality customer service for a diverse range of commercial, residential, and low-to-moderate income (LMI) customers. With the acquisition of Solstice, Perch will continue its mission to transform its business since the Arcadia merger and enhance operations to serve its expanded portfolio of customers. Its platform includes:
- Top notch developer reporting
- Enhanced billing and collections tools
- Strong customer care solutions
- Utility connect capabilities
- A large and diverse set of digital and traditional sales channels and partners ready to acquire commercial, residential and LMI customers at scale
- A stable of commercial customers
- Deep access to knowledgeable team members with experience dating back to the launch of community solar
"Our team possesses a shared vision with the Perch Energy team; a future where savings with clean energy is accessible to all, especially in key markets that host favorable economics and a growing appetite for solar," said Katsunori Nishida, CEO of MyPower Corp. "Perch and Solstice will be well-positioned to serve the millions of Americans looking to save money with solar energy, while also serving as an excellent partner for developers of solar projects as they seek to rapidly bring new clean energy generation onto the power grid without delay.”
Solstice will also contribute key expertise to Perch Energy. Sandhya Murali, Co-Founder and CEO of Solstice, and Tyler Yasa, Solstice’s VP of Growth and Asset Management will assume key leadership roles at Perch Energy, amongst other Solstice employees joining the company.
What is community solar? Over the last decade, Perch Energy has established itself as an industry leader in community solar, an innovative model for shared solar energy and utility bill savings. In states that have enabled community solar programs, homeowners, renters, and businesses can enroll in a local project in minutes and receive credits on their electricity bills for their share of the power produced. Customers of community solar are able to easily achieve savings on their electricity bill from a shared solar farm, and importantly, without the investment in installing solar on their rooftop.
How does community solar meet America’s growing energy demands? Community solar can be deployed quickly and cost effectively to meet our nation’s critical energy needs to power our economy’s growth while also making energy more affordable. Community solar doesn’t require new transmission or panels on consumers’ rooftops, and can be built 4x faster than utility-scale solar and much faster than other new energy generation options. This rapidly growing model strengthens the electric grid, and expands clean energy for all.
About Perch Energy
Boston-based Perch Energy is an industry-leading community solar servicer that’s helped renters, homeowners, and businesses save more than $100 million cumulatively in total energy discounts since its founding. Perch’s clean energy technology platform makes it easy for businesses, municipalities, and residential customers to sign up for community solar and save. Perch offers a suite of services to solar farm developers and owners to maximize the ROI of their assets, from customer acquisition, onboarding, lifecycle management, and billing, to regulatory and policy expertise for navigating community solar program rules. To date, Perch has provided services for solar projects which have generated over 6.6 billion kWh of power across many markets including New York, Illinois, Massachusetts, New Jersey, Virginia, Maine, Maryland, Rhode Island, Minnesota, Oregon and Washington, D.C.
About Solstice Power Technologies LLC
Founded in 2015, Solstice is a mission-driven company dedicated to ensuring every community can access and benefit from clean energy. Solstice connects households and small and large businesses to community solar farms that reduce their electric bills with no upfront cost or installation, while its frictionless subscriber management software and services offer community solar asset owners real-time insights into project health and policy expertise. Solstice also offers Community Benefit RECs, which aggregate corporate renewable energy purchases to fund new clean energy projects, workforce development, and environmental justice initiatives. Solstice's solutions align the needs of subscribers, asset owners, and corporate buyers to drive strong participation, community impact, long-term performance, and scalable growth in community solar.
Media Contact
FischTank PR
perch@fischtankpr.com
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
