About New Energy Equity
Company Overview
New Energy Equity, a wholly owned subsidiary of ALLETE, Inc.
HeadquartersAnnapolis, MD, United States
Founded2013
SizeApproximately 130 employees ranged in recent years and installed more than 500 MW of solar projects with over $1.2 billion in clean energy investments (sources: linkedin.com, newenergyequity.com)
What They Do
New Energy Equity specializes in solar project development and finance, delivering comprehensive end-to-end solar solutions including development, construction, financing, ownership, operation, and maintenance across the United States (source: newenergyequity.com). The company focuses on serving commercial, industrial, municipal, and utility customers seeking long-term contracted solar generation, primarily through a large portfolio of distributed solar projects rather than a few utility-scale plants (sources: linkedin.com, newenergyequity.com). Their integrated platform combines development, financing, construction, and asset management under one roof, enhanced by the backing of ALLETE and the integration of Impact Power Solutions and Energy Support Services into their operations (source: newenergyequity.com). The company handles all project lifecycle stages including feasibility assessments, site selection, engineering, procurement, construction, and ongoing operations and maintenance, positioning itself as a full-lifecycle distributed solar provider (source: newenergyequity.com). This comprehensive approach allows New Energy Equity to deliver tailored solar solutions that meet the diverse needs of its customers nationwide.
Projects & Track Record
New Energy Equity has developed and installed more than 250 solar projects across the United States, with cumulative capacity surpassing 500 MW as of 2024, reflecting significant growth from earlier milestones of over 300 MW (sources: newenergyequity.com, linkedin.com). Their portfolio spans multiple states with a particularly strong presence in the Midwest and Mid-Atlantic regions, serving commercial, municipal, and utility offtakers under long-term contracts (source: newenergyequity.com). While specific project names are not prominently listed, the company’s business model centers on distributed solar assets that provide reliable clean energy solutions tailored to customer needs (source: newenergyequity.com). The integration of Impact Power Solutions, a Minnesota-based subsidiary, further extends their operational footprint and expertise across multiple regions (source: newenergyequity.com).
Recent Developments
In January 2024, New Energy Equity achieved Silver certification through the Solar Energy Industries Association’s (SEIA) Diversity, Equity, Inclusion, and Justice (DEIJ) Certification Program, with plans to pursue Gold certification by the end of 2024, underscoring its commitment to inclusive business practices (source: newenergyequity.com). That announcement also highlighted the company’s milestone of surpassing 500 MW of solar projects and closing more than $1.2 billion in clean energy investments, marking a significant growth phase (source: newenergyequity.com). In October 2022, following its acquisition by ALLETE, New Energy Equity integrated Impact Power Solutions under its brand, reinforcing its national presence and operational scale (source: newenergyequity.com). The company also maintained recognition on Solar Power World’s Top Solar Contractors list and was acknowledged by Inc. as a fast-growing energy company in the D.C., Maryland, and Virginia region (source: newenergyequity.com).
Working There
New Energy Equity offers career opportunities across solar development, finance, construction, engineering, project management, operations, asset management, and business development, reflecting a dynamic and fast-growing organization focused on solar project execution (source: newenergyequity.com). The company fosters a professional environment centered on customer relationships and delivering clean energy solutions. Its offices are located in Annapolis, Maryland, with additional presence in Boulder, Colorado, and a Minnesota-based subsidiary, maintaining a mid-sized staff base rather than a large utility-style workforce (sources: newenergyequity.com, pitchbook.com).
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